It will be installed over a three to four-year period.
Annapolis, Md (KM) The State of Maryland will be installing a new tax processing system. Comptroller Peter Franchot says this new will system will have enhanced reporting, improved compliance and fraud protection, and increased security. :”This is going to make paying taxes a much more flexible, customer friendly operation than it is right now,” he says. “The old system just didn’t have the flexibility that the new systems have.”
The contract to install the new tax processing system, called COMPASS, was approved last week by the Board of Public Works. It’s expected to cost $159.7-million, and will be installed by Revenue Solutions, Inc., of Pembroke, Massachusetts.
Under this new system, Franchot says taxpayers will have an easier to time viewing their returns on line. “They will allow a taxpayer to get into the system, look at their tax form; perhaps they filed a year ago, or two years ago,” he says.
It can also detect fraud. “We”re pretty good at sorting out fraudulent refund requests……we’ve gotten awards for it nationally,” says Franchot. “This new system is going to turbo-charge that process.”
But Marylanders will still be able to file their returns on line, as they have been doing for years. “The key is that it’s going to be much easier for them to do that,” says Franchot.
The new tax processing system is expected to take three to four years to install, says Franchot. So residents will still have to file their returns using the old system in 2019.
The Board of Public Works consists of the Governor, Comptroller and the Treasurer.
By Kevin McManus