Watch: Congress Holds a Hearing on the IRS' Lavish Employee Conferences

The new acting head of the Internal Revenue Service said Thursday that he'll do "everything possible" to make sure taxpayer money is spent wisely.

Acting Commissioner Danny Werfel told members of the House Oversight and Government Reform Committee that it's a challenging time for the IRS.

The IRS has come under heavy criticism for expensive employee conferences and the targeting of conservative political groups that had applied for tax-exempt status.

A new report from the agency's watchdog says the IRS spent nearly $50 million on 225 employee conferences from 2010 through 2012.

Here's part one of the hearing:

Here's part two:

And here's part three:

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