Leidos Awarded $65 Million IRS Systems Support Contract
RESTON, Va. , Sept. 14, 2021 /PRNewswire/ -- Leidos (NYSE:LDOS), a FORTUNE ® 500 science and technology leader, was recently awarded the Paper and Remittance Processing Support (PRPS) III prime contract by the Internal Revenue Service (IRS). Through this contract Leidos will support two IRS systems to streamline the processing of paper tax filings, information returns and remittances. The single-award, firm fixed-price task order holds an approximate value of $65 million .
"We are proud to support the IRS while providing low-risk solutions to help secure taxpayer information," said Leidos Civil Group President Jim Moos . "Through this contract Leidos will optimize these critical systems and support their journey to greater efficiencies for the American taxpayer. We look forward to expanding our support for this essential service."
The scope of this contract work includes assisting the IRS's four service centers by providing software engineering support, testing and quality assurance and both mission operation and maintenance services. This also includes reinforcing the underlying hardware and software of two systems – the Integrated Submission and Remittance Processing System (ISRP) and the Service Center Recognition Image Processing System (SCRIPS). Both systems convert paper tax filings and information returns to electronic formats. They also process paper checks for tax remittances. ISRP and SCRIPS must operate without interruption to accurately digitize taxpayer-submitted data.
Leidos has supported the annual filing season for the last decade and dozens of legislative changes, including revised 1040 forms, Affordable Care Act information returns, Foreign Account Tax Compliance Act changes and others.
Leidos is a Fortune 500® technology, engineering, and science solutions and services leader working to solve the world's toughest challenges in the defense, intelligence, civil, and health markets. The company's 43,000 employees support vital missions for government and commercial customers. Headquartered in Reston, Va. , Leidos reported annual revenues of approximately $12.30 billion for the fiscal year ended January 1, 2021 . For more information, visit www.Leidos.com .
Statements in this announcement, other than historical data and information, constitute forward-looking statements that involve risks and uncertainties. A number of factors could cause our actual results, performance, achievements, or industry results to be very different from the results, performance, or achievements expressed or implied by such forward-looking statements. Some of these factors include, but are not limited to, the risk factors set forth in the company's Annual Report on Form 10-K for the period ended January 1, 2021 , and other such filings that Leidos makes with the SEC from time to time. Due to such uncertainties and risks, readers are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date hereof.
SOURCE Leidos Holdings, Inc.