How well is the IRS tracking some of its own costs? Recently, the Treasury Inspector General for Tax Administration (TIGTA) audited cost tracking in the IRS Private Debt Collection (PDC) program, which began in 2017. For fiscal years 2017–2019, the IRS assigned tax receivables valued at nearly $22.6 billion to private collection agencies. TIGTA found that the IRS isn’t “effectively tracking the program costs related to the PDC program.” Among other issues, auditors identified over $7.1 million in underreported costs for background investigations, contracts, labor and more (which the IRS computed to be $881,210). Learn about TIGTA’s recommendations here: https://bit.ly/3LKPTuc
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