Accenture Secures $2.6 Billion Contract with IRS to Modernize Tax Agency Systems
Accenture Federal Services, a unit of Accenture Plc, has secured a contract worth up to $2.6 billion with the Internal Revenue Service (IRS) to modernize the government tax agency's systems.
The contract is for a period of seven years, and Accenture will have to compete for future orders to support the IRS in creating new ways for taxpayers and professionals to interact with the agency.
The IRS previously announced that it will launch a free, government-provided direct tax filing option next year, which could potentially lead to the launch of a full-scale IRS filing system on par with private tax preparation software like TurboTax, owned by Intuit Inc.
Intuit forecasted current-quarter profit below estimates as it prepares to face competition from the IRS' exploratory study that found 72% of American taxpayers surveyed were interested in using a government tool to electronically file their tax returns.