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