Rhode Island Division of Taxation Success Story: End-to-End IFTA Processing, On-Time and On-Budget

Rhode Island Division of Taxation Success Story: End-to-End IFTA Processing, On-Time and On-Budget

January 13, 2015.  Pembroke, MA – Revenue Solutions, Inc. (RSI), a company that specializes in providing revenue and compliance management products and services to federal, state and municipal government revenue, labor and child support agencies, is pleased to announce Rhode Island Division of Taxation’s (RI TAX) success with the processing of International Fuel Tax Agreement (IFTA) registration and returns using RSI’s Revenue Premier® Integrated Tax Processing and Compliance Management suite of software.

The key features of this implementation were the configuration and implementation of the IFTA tax type within Revenue Premier; imaging and data capture of quarterly IFTA returns; processing of license applications and renewals; automated transmittal of demographic and transaction data to the IFTA, Inc. Clearinghouse to share information with participating IFTA jurisdictions; and the monthly funds netting process.

RI TAX is now the first IFTA jurisdiction to disburse the actual tax payment received from taxpayers to member jurisdictions each month, as defined in the IFTA Procedures Manual P1060.100 Allocation of Tax Option 1. All other IFTA jurisdictions assume the taxpayers’ unpaid liabilities in disbursing funds each month (P1060.200).

Along with the IFTA tax processing functionality, RI TAX also implemented RSI’s Revenue Premier Audit Manager with the Motor Carrier Workpaper Package. RI TAX now has an IFTA audit solution that provides auditors with an integrated software suite in Revenue Premier. Auditors can perform audits efficiently and, once completed, electronically post the audited returns into a taxpayer’s account.

Listed below are additional details of this successful implementation.

• Successful eight-month implementation of International Fuel Tax Agreement (IFTA) Processing within Revenue Premier.
• Redesigned IFTA-100 Quarterly Return for imaging and optimal data capture.
• Pre-populated printed quarterly IFTA-100 returns with taxpayer demographic and tax rate codes for each jurisdiction based on a taxpayer’s prior returns filed.
• Scanning and processing of IFTA Decal and License Applications Issuance and Annual Renewals.
• Processing all Rhode Island quarterly IFTA returns alongside returns for all miscellaneous RI tax types in Revenue Premier.
• Full maintenance of IFTA demographics, accounts, jurisdiction contacts, decal and license attributes.
• Implementation of six standard external interfaces:
  • IFTA Inc. Clearinghouse – Fuel Rates (inbound/outbound)
  • IFTA Inc. Clearinghouse – Demographics (outbound)
  • IFTA Inc. Clearinghouse – Combined Funds Netting Transmittal (outbound)
  • IFTA Inc. Clearinghouse – Summary Transmittal (outbound)
  • Federal Motor Carrier Safety Administration Commercial Vehicle Information System and Networks (CVISN) – Safety and Fitness Electronic Records (SAFER) IRP Demographics (outbound)
• Implementation of essential operational reports:
  • IFTA Accounts Receivable
  • IFTA Annual Complete IFTA Field Audits
  • IFTA Audit Stratification
  • IFTA Account Snapshot
  • IFTA Jurisdiction Annual Report
• Implementation of Revenue Premier Audit Manager with the Motor Carrier Workpaper Package:
  • Fully integrated with Revenue Premier modules including Integrated Tax Processor, Portfolio Warehouse and the Case Management shared service.
  • Audit results are systematically posted to audit periods without requiring duplicative data entry.

Audit findings flow through to the IFTA Inc. Clearinghouse interfaces, Combined Funds Netting Transmittal and Summary Transmittal.