March 8, 2016
A recently signed infrastructure spending Bill contains some drastic changes to how the IRS collects past due tax debts. The Bill is known as the “FAST Act.” In certain circumstances, this new law actually requires the IRS to hire private collection companies to collect taxes in difficult cases. This means that the law now requires, rather than permits, the IRS to use private collectors to collect these debts. It is also important to know the differences between legitimate collection efforts on behalf of the IRS, and the various fraudulent scam phone calls made by parties pretending to be the IRS.
The following is some helpful information regarding this new tax collection law: