Michael Mundaca, who recently stepped down as Assistant Secretary for Tax Policy at the Treasury Department, has rejoined his old firm, Ernst & Young.
The firm said Thursday that Mundaca would co-lead the National Tax Department with another former Treasury Department official, Eric Solomon, who served as Deputy Assistant Secretary for Tax Policy. Mundaca is the third former Treasury Department tax official to work in tax services at E&Y. Besides Solomon, Mark Weinberger, another former Assistant Secretary for Tax Policy, now works for the firm’s National Tax Department.
Mundaca will co-lead the National Tax Department with Solomon and will be based in Washington, D.C. He will also help lead the EY’s Americas Tax Center, which will launch in October 2011 as a virtual network integrating key global and Americas tax functions to provide clients with highly efficient, seamless cross-border tax services. Mundaca has served at the Treasury Department through three White House administrations.
“His knowledge and experience will help clients understand the issues and make the right decisions.,” said Kate Barton, the firm’s Americas vice chair of tax services, in a statement. “Eric and Michael will make an incredible team to lead our National Tax Practice.”
From 1997 to 2002, Mundaca served in the Treasury Department’s Office of Tax Policy, ultimately as deputy international tax counsel, as well as senior advisor on electronic commerce. He was the principal attorney responsible for issues involving transfer pricing, source-of-income, international shipping, expatriation, Latin American tax treaties, and possessions taxation. He then became a partner in Ernst & Young’s International Tax Services group from 2002 to 2007. His practice focused on cross-border planning and structuring and international legislative and regulatory affairs.
Mundaca joined the Treasury Department for the second time in July 2007 and served as Deputy Assistant Treasury Secretary for International Tax Affairs. He was appointed by President Obama in March 2010 to be Assistant Secretary for Tax Policy and served in that position until May 2011. During his time at the Treasury, Mundaca was involved in the formulation of tax policy, tax treaty negotiations and the issuance of regulatory guidance. Before joining Treasury for the first time, Mundaca was an associate at Sullivan & Cromwell, a law firm in New York City.
