Lockheed to streamline two processing systems under $100M IRS contract

Lockheed Martin has won a $100 million contract to support the Internal Revenue Service’s Submission Processing systems.

The contract will help the IRS streamline the processing of paper tax filings, information returns and remittances, the company said in a release.

Under the contract, Lockheed Martin will operate and maintain the efficiency of two high-performance IRS systems.

The first system converts individual and business paper tax filings and information returns to electronic forms, in addition to depositing tens of millions of dollars into the U.S. Treasury. The second is a data capture, management and storage system using high-speed scanning and digital imaging technology to process tax documents, the company said.

The company anticipates hiring 40 to 50 employees to complete the work under the contract, which will take place in Lanham, Md., and Fairfax, Va.