IRS Hires Joseph Velli to Help Administer Trump Accounts
The Internal Revenue Service (IRS) has appointed Joseph Velli as a senior adviser to CEO Frank Bisignano, tasked with helping administer the newly introduced Trump Accounts. These accounts are tax-deferred investment vehicles designed for children under 18 and aimed at fostering long-term wealth accumulation toward retirement. Children born between 2025 and 2028 will be eligible for a one-time $1,000 deposit from the U.S. Treasury Department. Velli brings extensive experience in corporate governance and leadership, having previously served on boards of Paychex, Cognizant, and Computershare, as well as leading roles at Convergex Group and The Bank of New York. His appointment underscores the administration's focus on expanding Trump Accounts as a key economic initiative. The move is expected to bolster administrative capacity for managing this new program, which has been positioned as central to long-term financial planning strategies.
Topics: hiring announcement IRS Trump Accounts