IBM today announced a Tax Audit and Compliance Solution that uses advanced analytics to help revenue agencies zero in on questionable tax returns. The solution is currently being used by U.S. state revenue agencies as well as international government agencies.
According to the U.S. Internal Revenue Service, today's tax agencies typically lose more than 15 percent of total revenues to under reporting, tax evasion and other types of noncompliance -- known as the "tax gap. Developed by IBM scientists, the solution uses algorithmic data mining and predictive modeling to compare individual taxpayer behaviors to those of similar taxpayers. The resulting analysis helps agencies to detect new tax evasion methods and provides auditors with lists of potentially fraudulent tax returns.
The IBM Tax Audit and Compliance Solution is currently designed to be installed at the customer site, or it can remain on IBM computers, with IBM consultants performing analyses on behalf of the client -- saving agencies the expense of investing in additional IT infrastructure.
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