The IRS is launching a new Pilot IRS Program to partner with small and medium sized digitization companies to reduce manual processes and reliance on paper. The result could improve the auditing process in the future by catching patterns, redundancies and mistakes in filings, and set the stage for creating efficiency in the long run through digitalization.
Ripcord, robotic digitisation company, has signed a six-month programme with the IRS, focused on securely digitising tax Form 709, which reports transfers of assets that may be subject to federal gift tax and certain generation-skipping transfer taxes. Ripcord will collect and digitise data from Form 709, including name, social security number, state, zip code and citizenship information.
