IRS PDC Program Quarterly Report Shows Increase in Overall Net Gain

The Internal Revenue Service (IRS) released its quarterly update to congress on the Private Debt Collection Program (PDC Program) implemented last year. The report shows the financial progress made by the PDC Program since its inception. It provides a year-by-year comparisons of data such as total revenue, costs of the program, and the program's overall balance (revenue less costs). The report also breaks down performance by each of the four Private Collection Agencies (PCAs) contracted for the PDC Program: CBE Group, ConServe, Performant, and Pioneer.

According ot the report, the program balance significantly increased between FY 2017 and FY 2018. FY 2018 shows a program balance of $51,059,024, compared to -$13,454,200 in FY 2017.

In FY 2018 (through September 30), the PCAs received an almost equal amount of inventory, roughly 150,000 tax receivables each. The dollar value of the receivables placed with the agencies was roughly similar with a spread of about $5 million between the highest total amount and lowest total amount placed.

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