Report on IRS Private Debt Collection Program Gives Good Reviews to Agencies, Criticized IRS Management of Program

The Treasury Inspector General for Tax Administration (TIGTA) issued a report on September 5, 2018, regarding the Internal Revenue Service’s (IRS) most recent attempt at its private debt collection (PDC) program. The report did a thorough review of the current PDC program, finding that the Private Collection Agencies (PCA) performed well despite setbacks caused by the IRS’s management and oversight of the program.

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News and Opinion

from insideARM.com

» 5 Financial Regulators Issue Joint Statement Clarifying That Guidance Does Not Equal Law

» RevSpring and Apex Announce Strategic Combination

» Report on IRS Private Debt Collection Program Gives Good Reviews to Agencies, Criticized IRS Management of Program

» Start Mastering the Text Message and Make Next Year Your Best Yet

» Petition Filed for U.S. Supreme Court to Review Case re Constitutionality of BCFP Structure

» John Watson to Join ContactRelief as CEO

» BCFP’s New Consumer Advisory Board Contains No Debt Collection Members

» BCFP’s Supervisory Highlights About Verification of Debt Potentially Conflict with 7th Cir. Guidance and Raise Questions of Practicality

5 Financial Regulators Issue Joint Statement Clarifying That Guidance Does Not Equal Law

Yesterday, five agencies that oversee financial institutions issued a joint statement regarding the role of supervisory guidance. The Federal Reserve Board, the Bureau of Consumer Financial Protection, the Federal Deposit Insurance Corporation, the National Credit Union Administration, and the Office of the Comptroller of the Currency confirmed that supervisory guidance does not have the force and effect of law, and the agencies do not take enforcement actions based on supervisory guidance. 

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insideARM Jobs

» DATA OPERATIONS MANAGER - Messerli & Kramer, P.A. - Plymouth, MN

» Collection Manager - Confidential - Birmingham, AL

» Director of Collections - Principis Capital - Jersey City, NJ

» Insurance Department Manager - Medical Data Systems - Melbourne, FL

» Assistant Manager of Medical Collections - Medical Data Systems, Inc. - Sebring, FL

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Women in Consumer Finance Conference

10 December 2018 at 06:00 p.m.

Sharpen your leadership skills, expand your professional network and help improve your workplace culture when you attend Women in Consumer Finance 2018 – a conference and networking event for ALL women in consumer finance.

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Free Reports and Webinars

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» Optimize Collections Operations - Combat Call Blocking Technology and Improve Contact Strategies

» Optimizing Batch and Manual Skip Tracing: A Winning Formula

» 5 Key Steps to Remaining Efficient During a Disaster

» See just how much you can save (and gain) with digital collections

» The Business Case for Kiosk Bill Collection

» Meeting The Demands Of A Digital Economy Through Mobile Pay Solutions

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