Internal Revenue Service (IRS) appoints Trish Turner as the new head of its crypto unit amidst reported policy modifications.
Crypto Shakeup at the IRS: Trish Turner Seizing the Reins
After the departure of two key figures from the private sector, IRS veteran Trish Turner steps up as the new head of the agency's crypto unit. Sources close to the matter reveal this news to Bloomberg Tax.
Trish Turner, a seasoned IRS official, assumes leadership of the crypto unit following the departure of Sulolit "Raj" Mukherjee and Seth Wilks. These twosome were instrumental in shaping the office's crypto oversight strategy. Mukherjee and Wilks left the agency after a brief tenure without specifying their reasons.
Mukherjee, previously the executive director of compliance and implementation, confirmed his departure to Bloomberg. Wilks, the executive director of digital asset strategy and development, announced his exit on LinkedIn. Mukherjee boasts a notable career history, working at ConsenSys and Binance.US before joining the IRS. Meanwhile, Wilks hails from TaxBit, a prominent cryptocurrency tax compliance firm.
Coinbase Battles IRS Over Crypto Regulation: Unconstitutional Dragnet Accusations Flying
The IRS has been ramping up its crypto focus in recent years, with increased audits and criminal cases targeting taxpayers' virtual assets. The agency also introduced crypto broker rules, which have met industry-wide criticism for being overly broad.
Turner, a two-decade IRS veteran, has most recently served as a senior adviser within the Digital Assets office. Her promotion comes as experts predict a more crypto-friendly stance from the second Trump administration.
Meanwhile, amid these changes, over 23,000 IRS employees have signaled their intention to resign, following the Trump administration offering a deferred resignation option, according to the report.
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Enrichment Insights: The key private-sector hires who left the IRS's crypto unit are Sulolit "Raj" Mukherjee and Seth Wilks. They both played crucial roles in shaping the office's crypto enforcement and regulation.
- Sulolit "Raj" Mukherjee: Mukherjee served as the executive director of compliance and implementation. A versatile career saw him working at ConsenSys and Binance.US before joining the IRS. Mukherjee was engaged in enhancing compliance measures and implementing new regulations for digital assets[2][3][5].
- Seth Wilks: Wilks held the position of executive director of digital asset strategy and development. He came to the IRS from TaxBit, a leading cryptocurrency tax compliance firm. Wilks was instrumental in developing strategic approaches to managing digital assets and contributing to the formulation of new tax regulations for crypto markets[2][3][5].
Both Mukherjee and Wilks co-led the Office of Digital Assets and took part in initiatives such as drafting new tax regulations and developing the amended 1099-DA tax form to simplify taxpayers' reporting of digital asset transactions[5]. They had been placed on paid administrative leave as part of a broader staff reduction effort supported by the Trump administration[5].
- Trish Turner, a former IRS official, takes over the leadership of the crypto unit, following the departure of Sulolit "Raj" Mukherjee and Seth Wilks.
- Coinbase is currently embroiled in a battle with the IRS over crypto regulation, with accusations of unconstitutional dragnet flying.
- Turner, with over two decades of IRS experience, has recently been promoted from her role as a senior adviser within the Digital Assets office.
- The IRS is ramping up its focus on cryptocurrencies, introducing crypto broker rules that have been met with industry-wide criticism.
- Among the changes in the IRS's crypto unit, over 23,000 IRS employees have signaled their intention to resign, following the Trump administration offering a deferred resignation option.
- In the digital world, Sulolit "Raj" Mukherjee, the former executive director of compliance and implementation, and Seth Wilks, the former executive director of digital asset strategy and development, played crucial roles in shaping the office's crypto enforcement and regulation.
- Cryptocurrencies, including DeFi, ico, and token, are increasingly becoming a topic of discussion in finance, business, politics, and general-news, as the world of cryptocurrencies continues to evolve.
