The Internal Revenue Service has tapped Sulolit “Raj” Mukherjee, J.D., one of the crypto industry’s foremost experts on tax policy, to advise its digital assets efforts.
In a press release today, IRS Commissioner Danny Werfel said, “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.”
Already on the job, Mukherjee is working alongside Seth Wilks, formerly with TaxBit. As executive advisors, they “will help lead IRS efforts building service, reporting, compliance and enforcement programs focused on digital assets,” according to the announcement.
“Seth and Raj expand our ability to understand this sector while designing systems for reporting of cryptocurrency and digital assets and related transactions,” said Doug O’Donnell, IRS Deputy Commissioner, Services and Enforcement. “Improving employee capacity and access to tools in this rapidly evolving global landscape is a top IRS priority.”
Mukherjee’s vast knowledge of decentralized exchanges will be valuable in this new role. Most recently, he was Global Head of Tax at ConsenSys, where he oversaw tax policy, corporate tax compliance, international tax, mergers and acquisitions, and customer reporting. Mukherjee previously served as Vice President and Global Head of Tax at Binance.US, as well as Global Head of Tax Information Reporting at Coinbase. He also provided strategic guidance as Co-Chair of Blockchain Association’s Tax Working Group.
Mukherjee has a 360-degree view of global tax policy. Before his work in decentralized finance, he was a leader in Wall Street financial markets. He worked at J.P. Morgan as the Head of Tax Compliance and Due Diligence for their Wealth Management division and as Vice President of Tax, Global Banking and Markets at HSBCHBA.
Over the last few years, the IRS, a bureau within Treasury, has been innovating its processes, ramping up on enforcement actions, and accelerating its taxpayer compliance campaign. Hiring these seasoned DeFi experts signals that the agency is gearing up for the age of digital finance.
