If you owe the IRS, the next person calling you at all of hours of the night might just be from a private collection agency. Very recently, the president signed into Law the Surface Transportation Act, which provides funding for transportation projects (highway, roads and infrastructure) over a ten-year period. The bill also had a rider, which will allow the IRS to use private companies to collect unpaid debts. That’s going to create business for the private sector, which really isn’t shrinking government—or is it?
The truth is that the IRS already has the power to use private agencies to collect debts. So, what will the new changes allow for? It’s difficult at best to even fathom. That’s why you should always have a tax professional on standby.
America, for the most part is still unaware of the new law. However, when it comes into full swing, the private companies will arrive in force. The best thing to do is get in the mindset that keeping on top of your taxes is the proper and smart thing to do. Experience and knowledge dictates that anything done wrong will eventually come to light. Private companies are eager to pick up government contracts, so be on the lookout.
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Law Offices of Darrin T. Mish, P.A.: Tax Attorney