The Treasury Department has created a new position at the IRS and has appointed the head of the Social Security Administration to lead it.
Treasury Secretary Scott Bessent, who is also the acting chief of the IRS, announced on Oct. 6 that Frank Bisignano will be the first-ever CEO of the IRS.
Bisignano will report directly to Bessent, managing the agency and overseeing all day-to-day IRS operations while also continuing to serve in his role as commissioner of the Social Security Administration.
As the Wall Street Journal notes today about the appointment, the move lets the administration install a Trump appointee at the IRS quickly without going through the Senate confirmation process.
“Frank is a businessman with an exceptional track record of driving growth and efficiency in the private and now public sector,” Bessent said in a statement on Monday. “Under his leadership at the SSA, he has already made important and substantial progress, and we are pleased that he will bring this expertise to the IRS as we sharpen our focus on collections, privacy, and customer service in order to deliver better outcomes for hardworking Americans.”
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Bisignano is a veteran of JPMorgan Chase & Co., where he served as co-chief operating officer and chief executive officer of mortgage banking, and before that Citigroup Inc. He left Wall Street to lead First Data Corp., a payments processor, undertaking a series of deals and leading the firm through an initial public offering in 2015.
Fiserv acquired First Data for $22 billion in 2019, a financial merger that created a payments processing giant. Bisignano led the combined company first as president and chief operating officer before becoming CEO in July 2020 and chair of the board in May 2022.
Bessent has been IRS acting chief since August when Trump pulled the plug on Billy Long serving as IRS commissioner after only two months on the job. Bessent will remain in his role as commissioner of the IRS, CNBC reported on Monday citing sources, according to Reuters.
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