NEW YORK--(BUSINESS WIRE)--LexisNexis® Risk Solutions today announced a strategic alliance with Tax Management Associates, Inc. (TMA) to accelerate its Revenue Discovery and Recovery programs for state and local governments. The programs identify areas of waste, fraud or abuse and seek to increase state and local government revenues through careful administration of existing tax sources.
Through the alliance with TMA, LexisNexis has established two new programs, Homestead Exemption Fraud Detection and State Income Tax Refund Fraud. The programs are designed to help government agencies find taxpayers who are out of compliance with state and or local laws, or those individuals who are deliberately trying to fraud the government.
“Individuals not paying their fair share along with government agencies making improper payments significantly contributes to the growing tax gap, more than $300 billion per year,” said Haywood Talcove, chief executive officer, LexisNexis Special Services Inc. “Our alliance with TMA helps uncover these types of behaviors in order to prevent tax increases and restore funding to community programs.”
The new programs are designed to detect some of the most common fraudulent patterns that state and jurisdictions are currently paying, including: people in prison, deceased, claiming multiple homestead exemptions or tax refunds, undisclosed renters and stolen identities. Overall, the new programs will help state and local governments discover and recover revenue that can significantly improve funding for other programs, such as education and law enforcement.
“LexisNexis aligns well with our core mission of integrating knowledgeable experts with cutting edge technology,” said Richard (Chip) Cooke, Jr., Vice President Sales and Marketing, TMA. “We are delighted to join forces with LexisNexis to help fight fraud.”
The South Carolina Association of Counties is pursuing just such a program for its membership. ‘We hope that compliance efforts in this area will ultimately increase equity and uniformity in the property tax base for the taxpayers of the State of South Carolina.’
In the coming months, LexisNexis and TMA will leverage their respective skill sets in data and investigation to examine locally filed homestead exemptions on residential property, as well as personal income tax refunds, in order to detect fraud. Beyond the initial alliance, LexisNexis and TMA will continue to develop new and valuable ways to combat waste, fraud and abuse in the overall tax system.
About LexisNexis Risk Solutions
LexisNexis Risk Solutions (www.lexisnexis.com/risk/) is a leader in providing essential information that helps customers across all industries and government predict, assess and manage risk. Combining cutting-edge technology, unique data and advanced scoring analytics, Risk Solutions provides products and services that address evolving client needs in the risk sector while upholding the highest standards of security and privacy. LexisNexis Risk Solutions is part of Reed Elsevier, a leading publisher and information provider that serves customers in more than 100 countries with more than 30,000 employees worldwide.
LexisNexis® helps law enforcement, intelligence, revenue and social services agencies in the government industry enhance investigations, derive insight from complex data sets, and combat fraud, waste and abuse.
About Tax Management Associates (TMA)
Since 1979, Tax Management Associates (TMA) (www.tma1.com) has been assisting state and local tax officials in their day to day duties of administering the property tax. TMA is made up of an experienced management team, accounting professionals and other specialized individuals, comprising over 130 people in offices across the United States. TMA’s expertise lies in leveraged technology and a deep knowledge of local taxation practices to assist its clients in discovering and processing missing sources of revenue. These sources of revenue include business taxes, income taxes and improperly filed exemptions. TMA has performed similar services for over 450 client jurisdictions in fifteen states.