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News Link • TAXES: Federal

Social Security, Treasury target Americans for their parents' old debts

the federal government is seizing nearly $2 billion from hundreds of thousands of taxpayers this year in order to settle debts, some incurred by their parents, some dating back to more than a decade. This process has been ongoing since 2011, when a revision in the farm bill passed by Congress removed the 10-tear statute of limitations on debts owed to the United States. Since that bill was passed, the government has collected $424 million on debts older than a decade. This year, however, has seen the Social Security Administration (SSA) alone claim that 400,000 Americans owe a total of $714 million in debts older than 10 years.

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