Have you ever seen the "cupid shuffle"? Neither have we. But thankfully, the IRS has you covered and can show you how it's done ... and they're using your tax dollars to do it.

Hearings are set to begin in the House this afternoon on the investigation into the IRS' targeting of conservative groups, but the branch is also now in hot water for spending $50 million on lavish conferences primarily meant to entertain employees. That lofty price tag includes $4 million spent on one particular event alone, a sum that included the production costs for videos like the one seen in the clip above in which IRS employees are led in a dance called the "cupid shuffle" in order to "get ready" for their Anaheim conference. 

Apparently, it worked and adequately prepared them.

The event, a manager's conference for 2,600 people in Anaheim, Calif., took place in August, 2010, and according to the House Oversight Committee's website, "contrary to established government contracting practices, the outside event planners did not negotiate lower room rates and instead focused on 'perks' for IRS employees." These perks included some employees staying in presidential suites at the hotel, the rates for which ranged between $1,500-$3,500 per night. Moreover, 15 outside speakers were paid $135,000 - including one speaker who lectured on "leadership through art" for $17,000.

IRS officials have been questioned by the committee on their targeting of Tea Party and other right-wing groups, with the head of the tax exempt division Lois Lerner pleading the fifth during her questioning. This latest revelation of extravagant spending may in fact be the next item on the docket for those calling for reform of the embroiled IRS.

Stuart Varney discussed the outrageous spending on America's Newsroom. Watch his reaction and stay tuned to Fox News Channel throughout the day for the latest developments on the IRS scandal!