The Internal Revenue Service has hired Throrit “Raj” Mukherjee, a leading tax policy expert in the crypto industry, to advise on its approach to digital assets.
In a press release today, IRS Commissioner Danny Wuerffel said: It is important for taxpayers and the public to understand this correctly. Bringing in expertise from the private sector to work with IRS teams is essential to successfully building the agency's efforts around digital assets and helping them do it in a way that works for everyone. . ”
Mukherjee is already on the job, working alongside Seth Wilks, formerly of TaxBit. As executive advisors, they will “lead the IRS' efforts to build services, reporting, compliance, and enforcement programs focused on digital assets,” according to the announcement.
“Seth and Raj will enhance our ability to understand this area as we design systems for the reporting of cryptocurrencies and digital assets and related transactions,” said Doug O’Donnell, IRS Deputy Commissioner for Services and Enforcement. says Mr. “Improving employee capabilities and access to tools is a top priority for the IRS in this rapidly evolving global landscape.”
Mr. Mukherjee's vast knowledge of decentralized exchanges will be invaluable in this new role. Most recently, he was ConsenSys' global head of tax, overseeing tax policy, corporate tax compliance, international tax, mergers and acquisitions, and client reporting. Mr. Mukherjee previously served as Vice President and Global Head of Tax at Binance.US, and he served as Global Head of Tax Information Reporting at Coinbase. He also provided strategic guidance as co-chair of the Blockchain Association's Tax Working Group.
Mr. Mukherjee has a 360-degree view of global tax policy. Before he worked in the field of decentralized finance, he was a financial market leader on Wall Street. He previously worked at JPMorgan as Head of Tax Compliance and Due Diligence in the Wealth Management Division and as Vice President of Tax, Global Banking and Markets at HSBCHBA.
Over the past several years, the IRS, a bureau within the Treasury Department, has innovated processes, strengthened enforcement actions, and accelerated taxpayer compliance campaigns. The hiring of these experienced DeFi experts shows that the agency is preparing for the era of digital finance.
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