The Internal Revenue Service (IRS) is onboarding two former crypto executives to bolster the tax agency’s enforcement efforts in the digital asset space.
In a new press release, the IRS says it recruited Sulolit “Raj” Mukherjee and Seth Wilks to serve as executive advisers for the agency.
Mukherjee previously worked as global head of tax at blockchain software company ConsenSys and served as an executive at the US arm of crypto exchange Binance while Wilks previously served as vice president of government relations at crypto tax software firm TaxBit.
The duo will lead the agency’s efforts on services and programs focused on digital assets.
Says IRS Commissioner Danny Werfel,
“This is a complex and evolving sector that has major tax administration implications. It’s important we get this right for taxpayers and the nation.
Pulling in expertise from the private sector to work with the IRS team is critical to successfully building the agency’s efforts involving digital assets and helping us do it in a way that works well for everyone.”
The IRS hires Mukherjee and Wilks amid a rising number of crypto tax evasion cases. The tax authority is also working on regulations that would impose reporting requirements for crypto brokers, including exchanges.
Says IRS deputy commissioner for services and enforcement Doug O’Donnell,
“Seth and Raj expand our ability to understand this sector while designing systems for reporting of cryptocurrency and digital assets and related transactions. Improving employee capacity and access to tools in this rapidly evolving global landscape is a top IRS priority.”
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- Source: https://dailyhodl.com/2024/02/29/irs-recruits-former-binance-us-and-consensys-executives-to-investigate-crypto-tax-evasion/
