President Obama's Statement on the IRS Report: 'Intolerable and Inexcusable'

'The bottom line is, it was wrong'

The Treasury Inspector General issued a report today finding the IRS used "inappropriate criteria" to target conservative groups. Long story very short: In response to a surge in 501(c)(4) applications, some IRS officials took short-cuts to determine if the organizations were acting in an overtly political manner, which would violate their tax-free status. The IRS told the group to use fairer and less politically charged criteria. And they didn't.

Here is the president's response to today's report (via Ryan Lizza)

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Here is the summary of the Inspector General report:

Highlights of Inspector General report on IRS targeting of conservative groups

And here is the report in full:

Inspector General report on IRS targeting conservative groups

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Derek Thompson is a senior editor at The Atlantic, where he writes about economics, labor markets, and the entertainment business.

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