Cliff Gannett, acting director of government entities and former head of the tax-exempt bond office at the Internal Revenue Service, will retire at the end of June, he announced at a American Bar Association tax-exempt financing committee meeting Friday.

Gannett, 58, has worked at the Service for 30 years and will officially retire on June 29, he said in a brief interview Monday.

Andrew Zuckerman will take over as acting director of government entities when Gannett leaves.

Gannett has also been working in a supporting role with Steve Chamberlin in the tax-exempt bond office. Chamberlin was tapped to serve as acting director of TEB in December. An official director of TEB official will be announced at the end of June, Gannett said.

Gannett was director of TEB from 2006 through the middle of 2011.

“I’ve had a very satisfying career with the IRS and I’ve really been appreciative of the bond professionals I’ve worked with over the years,” Gannett said. “I will miss working in the industry.”

Gannett plans to travel and spend more time with his family. He is uncertain if he will join the private sector in some capacity or as a volunteer, he said.

His retirement comes six months after another former TEB employee Robert Henn, retired in December. Henn was acting director of TEB from 2011 until the end of 2013.

The IRS, which has been operating under a hiring freeze due to the budget cuts from sequestration, has not replaced workers who retire or leave for other jobs. q

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.