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House passes bill ending IRS private debt collection program.(TRADELINE)
The U.S. House of Representatives recently passed the Tax Collection Responsibility Act (H.R. 3056) which, if signed into law, would effectively block an Internal Revenue Service (IRS) program that allows private debt collection firms to assist the IRS in collecting unpaid taxes. The bill passed by a vote of 232173, falling largely along party lines, with Democrats in favor of the bill and Republicans opposed.
The IRS private debt collection program took effect in September 2006 and was originally conceived as a way to reduce the nation's tax gap, the $345 billion difference between taxes owed and taxes collected. Other measures proposed by Congress to curb the tax gap include the 3% withholding tax scheduled to take effect on all government business contracts in January 2011. Since its inception, private debt collectors have collected more than $30 million in unpaid taxes and dosed 9,000 cases.
The bill passed by the House is revenue neutral and would compensate for the immediate ...
- House repeals IRS private debt collection program.(United States. Internal...
- Magazine article from: Accounting Today May 19, 2008 700+ words
...Services often controversial Private Debt Collection Program. By a margin of...of the IRS to enter into private debt collection contracts, Lewis said...trust. In addition to the private debt collection repeal, the bill eliminated...
- Private Debt Collection Contract Awarded.(The CBE Group)(Linebarger Goggan...
- Magazine article from: The Practical Accountant May 1, 2006 700+ words
...contracts to three firms in the first phase of its private debt collection initiative. The firms, none of them accounting...order to the three firms awarded contracts in its private debt collection initiative as a result of protests filed with...
- IRS initiative for private debt collection.
- Magazine article from: The Tax Adviser Yuskewich, J. Matthew January 1, 2006 700+ words
...expects to award the first three contracts for private debt collection in February 2006 and begin implementation in June...which the PCAs have to operate. First, the Fair Debt Collection Practices Act applies to them. Second, taxpayer...
- IRS private debt collection initiative hit snag.(Internal Revenue...
- Newspaper article from: The Kiplinger Tax Letter August 12, 2005 700+ words
The IRS private debt collection initiative has hit a snag. The program will not start Jan. 1 as the Service had planned. After soliciting bids, IRS picked...
- IRS' private-debt collection program in danger again.(ENFORCEMENT)(Internal...
- Newspaper article from: The Kiplinger Tax Letter December 15, 2006 700+ words
The Service's private-debt collection program is in danger again. Top Democratic taxwriters object to it, saying that the program isn't cost efficient and puts taxpayers...
- Roadblock for IRS' private debt collection program.(ENFORCEMENT)
- Newspaper article from: The Kiplinger Tax Letter March 24, 2006 700+ words
Just when IRS was finally starting private debt collection... A new roadblock got in the way. IRS thought all systems were go because it recently awarded contracts to three collection...
- IRS to start private debt collection project.(Internal Revenue Service)(Brief...
- Newspaper article from: The Kiplinger Tax Letter July 1, 2005 700+ words
The Service will start its private debt collection project in Jan. Three firms have been selected to collect unpaid taxes from individuals who owe $25,000 or less. IRS will...
- IRS going ahead with private debt-collection program.(TAX DEBTS)
- Newspaper article from: The Kiplinger Tax Letter August 25, 2006 700+ words
The IRS is going ahead with its private debt-collection program, even though the Service admits that using outside firms to seek back taxes from scofflaws costs more than hiring new...