Press Release 7-19-04

RSI Wins New Mexico Data Repository and Audit Selection/Discovery System Project

July 19, 2004. Pembroke, MA – The New Mexico Taxation and Revenue Department has selected Revenue Solutions, Inc. (RSI) and the DiscoverTax® product for their Data Repository and Audit Selection/Discovery System Project.

The project team, comprised of RSI and State staff, will install DiscoverTax® and use the package’s data loading tools and tax data warehouse to load the State’s multiple internal and external data sources. Once the DiscoverTax® data warehouse has been loaded, the package’s business intelligence tools will be used to configure and implement several individual and business compliance programs aimed at identifying and collecting unpaid taxes.

DiscoverTax® is a Commercial Off The Shelf (COTS) software package developed specifically to combat the growing compliance “tax gap.” DiscoverTax® provides tax agencies with a state-of-the-art tax data warehouse solution which interconnects data from multiple sources creating a single entity or portfolio view of a business or individual taxpayer. These comprehensive taxpayer portfolios increase the overall effectiveness of an agency’s compliance initiatives by targeting agency resources to truly non-compliant accounts, resulting in accurate and revenue maximizing detection and recovery of tax dollars. The DiscoverTax® system components support all phases of the compliance lifecycle from data loading and lead selection to case management, audit support and recovery.

Over time the New Mexico Taxation and Revenue Department plans to expand the tax data warehouse data sources and compliance programs to more effectively manage non-compliance and increase overall voluntary compliance.