Quickly understand the history and background of various well-known coins

IRS Loses Two Crypto Leaders Amid DOGE Plan Workforce Cuts

Coin WorldFriday, May 2, 2025 8:52 pm ET

1min read

Two key cryptocurrency project leaders at the Internal Revenue Service (IRS), Seth Wilks and Raj Mukherjee, resigned on Friday after accepting the government's proposed "DOGE Deferred Resignation Plan." Both individuals, who previously worked in the cryptocurrency industry, joined the irs in 2024 to oversee the development of cryptocurrency tax policy and led the creation of the new 1099-DA tax form.

The resignations of Wilks and Mukherjee come as part of a broader effort to streamline government operations and reduce costs through the implementation of the DOGE Plan. Proposed by Elon Musk, the DOGE Plan aims to significantly reduce the IRS workforce by approximately one-third, sparking controversy and debate within the IRS and the broader government community.

The plan has faced resistance from some quarters, who argue that such drastic measures could compromise the agency's ability to effectively enforce tax laws and provide essential services to taxpayers. Critics have expressed concerns about the potential impact on tax compliance and the overall efficiency of the IRS.

Proponents of the DOGE Plan, however, contend that by reducing the size of the IRS workforce, the government can achieve significant cost savings and improve overall efficiency. They argue that the plan is part of a larger initiative to enhance efficiency and reduce expenditures.

The resignations of the two cryptocurrency executives highlight the complexities and challenges associated with implementing large-scale government reforms. The DOGE Plan, while aimed at improving efficiency and reducing costs, has raised questions about the potential impact on the IRS's ability to fulfill its mandate.

As the government continues to explore ways to streamline operations and reduce expenditures, it will be crucial to balance the need for cost savings with the importance of maintaining effective and efficient government services. The DOGE Plan, named after the cryptocurrency Dogecoin, represents a significant shift in government policy and underscores the ongoing debate about the role of cryptocurrency in the broader economy.

Disclaimer: the above is a summary showing certain market information. AInvest is not responsible for any data errors, omissions or other information that may be displayed incorrectly as the data is derived from a third party source. Communications displaying market prices, data and other information available in this post are meant for informational purposes only and are not intended as an offer or solicitation for the purchase or sale of any security. Please do your own research when investing. All investments involve risk and the past performance of a security, or financial product does not guarantee future results or returns. Keep in mind that while diversification may help spread risk, it does not assure a profit, or protect against loss in a down market.