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IRS hires Joseph Velli to help administer Trump accounts

The Internal Revenue Service told CNBC exclusively it has hired Joseph Velli as a senior adviser to Chief Executive Officer Frank Bisignano to help administer Trump Accounts.

Velli previously served on the boards of Paychex

Velli previously served on the boards of Paychex, Cognizant and Computershare. He was also the chairman and CEO of Convergex Group and a senior executive vice president at The Bank of New York.

Trump accounts are a new tax-deferred investment vehicle

Trump accounts are a new tax-deferred investment vehicle for children geared toward retirement and building long-term wealth.

The Internal Revenue Service has hired Joseph Velli

The Internal Revenue Service has hired Joseph Velli as a senior advisor to Chief Executive Officer Frank Bisignano to help administer Trump Accounts, according to an email Bisignano sent to senior leaders at the IRS that was shared first with CNBC.

"Joe is a seasoned CEO and senior executive

"Joe is a seasoned CEO and senior executive with extensive experience in corporate governance, leadership and business operations," Bisignano said in the email, which was reviewed by CNBC. "In this role, he will focus on Trump Accounts." Read more CNBC politics and policy coverage

Trump Accounts are a new tax-deferred investment vehicle

Trump Accounts are a new tax-deferred investment vehicle for children under 18 geared toward retirement and building long-term wealth. Children born from 2025 through 2028 can receive a one-time $1,000 deposit from the U.S. Treasury Department. Trump Accounts are one of the administration's top economic priorities.

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IRS hires Joseph Velli to help administer Trump accounts

The Internal Revenue Service told CNBC exclusively it has hired Joseph Velli as a senior adviser to Chief Executive Officer Frank Bisignano to help administer Trump Accounts.

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Source: CNBC

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