IRS starts fast on its search for new business intelligence platform
Gettyimages.com / Fotograzia
By
Ross Wilkers
Interested parties have one more day to respond to this sources sought notice from the tax agency, which is looking to upgrade software it uses to follow the U.S. corporate sector.
The Internal Revenue Service has embarked on its search for a new software platform to use in collecting, researching and validating information on corporate and partnership taxpayers.
Staffers at the IRS’ Statistics of Income division, which is the tax agency’s principal statistics unit, use the data to gain insight into the structure and behavior of the U.S. corporate sector.
But we have to caution that if this opportunity is of interest to your company, get your submission together quickly because the sources sought notice issued Monday has a response deadline of 3 p.m. Eastern time on Wednesday (tomorrow).
The IRS envisions this contract as covering one base year and up to four individual option years, during which the awardee would be responsible for providing online access for 27 users. Licenses, technical support and account management services are in the contractor’s scope of responsibilities.
Currently called Business Intelligence Platform, this effort is intended to help IRS statistics division staffers look at the performances of the U.S. corporate sector. Fulfilling external demand from policy institutions, economists and researchers for tax-based statistics is also a major point of emphasis for the IRS.
The platform must provide users access to verified corporate data that includes NAICS classifications, financial information, business location data and relationships between businesses.
Major corporate structural events, including mergers and acquisitions, and organizational changes such as spinoffs or divestitures must be tracked in the platform in order to prevent statistical distortions.
Artificial intelligence usage is a must for this new platform as the IRS is requiring it to provide structured, machine-readable data that can support AI-assisted data validation, automated anomaly detection, cross-entity matching algorithms and pattern recognition for structural changes.
The IRS cites these examples as aligning with the Treasury Department’s overall AI modernization objectives, such as implementing AI-based data verification processes into workflows.