Former IRS Commissioner Douglas Schulman on Tuesday withdrew from a bid to join the Chicago Board of Options Exchange.
Schulman led the tax agency from 2008 to 2012, which is the period of time that the questionable screening was taking place.
Reports came out last week that the IRS had specifically targeted the Tea Party and other conservative groups for audits and questioned their tax-exempt status.
The revelation has touched off a firestorm of controversy and drawn universal condemnation, from President Barack Obama on down - although elements of the agency contend that the targeting was not politically motivated.
Schulman and resigned acting IRS Director Steven Miller testified to Congress that they were unaware of the targeting until recently.
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