Vermont Department of Taxes Selects RSI’s Revenue Premier® for Compliance Modernization Project
November 18, 2011. Pembroke, MA – Revenue Solutions, Inc. (RSI), a company that specializes in providing revenue and compliance management products and services specifically to federal, state and local government revenue agencies, is pleased to announce that Vermont Department of Taxes (VDT) has selected RSI and Revenue Premier™ for their Compliance Program Modernization. This initiative will provide for the generation of increased tax revenue from tax debtors based on a fully-integrated data warehouse utilizing advanced data mining techniques, statistical selection and scoring, automated assessment technology and improved business intelligence capabilities.
VDT is responsible for collecting over $1.4 Billion in taxes and fees annually. In an effort to reduce the tax gap in Vermont, VDT requires the ability to compare data from both internal and external data sources for use in the identification of areas of non-compliance and the enforcement of tax laws. The data may be provided by taxpayers on tax returns, obtained from other State agencies, from U.S. government agencies such as the Internal Revenue Service, or from other external sources.
This Project will become RSI’s twelfth Revenue Premier™ Portfolio Warehouse client. The project entails a five year benefits-funded arrangement between RSI and VDT where RSI will be paid through benefits achieved by the solution. The Portfolio Warehouse implementation, which began in Montpelier, Vermont, in May 2011, will:
- Deliver a robust data warehouse populated with data from a variety of sources, both internal and external to VDT;
- Automate and expand VDT’s individual income tax compliance programs in order to increase revenue through accurate identification of non-filers;
- Improve and automate procedures used to detect fraudulent or erroneous refund requests under VDT’s individual income tax program;
- Integrate data mining and business intelligence tools that will enable VDT to select audit candidates for a more effective and efficient audit program;
- Improve VDT’s collection of accounts receivable by aligning the taxpayer with the most appropriate compliance treatment; and,
- Establish an extensible and scalable platform that will support additional data sources, compliance solutions, and business intelligence functionality as new objectives are identified.
RSI’s scope of work will be performed in phases over the five year period. RSI is looking forward to expanding its relationship and product suite with VDT.
About Revenue Solutions, Inc.
RSI’s mission, since incorporating in 1996, is to assist government agencies realize their business objectives and achieve significant results from information technology investments. RSI partners with clients on IT initiatives to improve customer service, increase operational efficiency and maximize compliance. Federal, state and local government agencies rely on RSI’s extensive expertise in business and technical domains. RSI has provided solutions to more than twenty five (25) Tax & Revenue agencies at the federal, state and city levels. With a dedicated team of full-time business and information systems consultants and a suite of software solutions, RSI is one of the largest organizations of its kind dedicated exclusively to tax, labor and child support agencies. For more information on Revenue Solutions, Inc. or RSI products and services, visit RSIDelivers.com
Incorporated in 1996, RSI’s mission is to streamline government operations and improve citizen services through the delivery of transformative technologies. RSI partners with clients on information technology initiatives to improve customer service, increase operational efficiency and maximize compliance. Federal, State and Municipal government agencies rely on RSI’s extensive expertise in business and technical domains. With a dedicated team of full-time business and information systems consultants and a suite of software solutions, RSI is one of the largest organizations of its kind dedicated exclusively to government agencies, including tax and labor.
Revenue Premier®, RSI’s flagship product, provides an integrated, functional and advanced technical solution to support the processing, tax accounting and compliance functions of a revenue agency. Revenue Premier is comprised of four (4) primary modules – Integrated Tax Processor, Collections Manager, Portfolio Warehouse and Audit Manager. Revenue Premier boasts an open technical design and a set of shared services which provide vast flexibility for reusing services, integrating other products and a variety of supporting technical infrastructure options.