WASHINGTON President Barack Obama's nominee to lead the Internal Revenue Service has a net worth of as much as $27 million, according to federal ethics disclosure documents posted online.
John Koskinen, 74, was nominated last month by Obama to be the next commissioner of the tax-collecting agency. The IRS was shaken earlier this year by a controversy about its treatment of applications for tax-exempt status from conservative groups.
The documents were filed with the U.S. Office of Government Ethics as part of the standard vetting process for federal nominees. They showed that Koskinen's net worth was in a range of $7 million to $27 million in assets, as of August 27.
The documents - which normally report individuals' net worth in ranges - showed that Koskinen, a lawyer, owns a substantial number of shares in AES Corp, a power company.
In an August letter to the Treasury Department accompanying the disclosures, Koskinen said he would divest his AES holdings and resign from its board if he is confirmed.
He said he would also resign from the board of American Capital Ltd, a private equity firm.
The disclosures were sent to the Senate Finance Committee, which is expected to schedule a hearing soon on the nomination.
If confirmed by the Senate, Koskinen would take over an agency with 90,000 employees. A Treasury Department spokeswoman declined to comment on the disclosure filing on Monday.
(Reporting by Patrick Temple-West; Editing by Kevin Drawbaugh and Eric Walsh)