Department of the Treasury

Eliminate Paper Tax Processing Utilizing Treasury Lockbox Banks

While great strides have been made recently to get more folks to file online (which substantially reduces labor costs for the government), there's no reason why the remaining paper filings (of which there will always be some) couldn't be digitized by lockbox banks (or the Federal Reserve) servicing the IRS. Since these banks are already processing remittances for deposit, why not have them digitize filings so that they are machine readable and then ready for immediate download into IRS systems for access by agents. Bidding this digitization/lockbox effort out (either by service area or in total) could potentially achieve big monetary gains for the IRS.

 

IRS agents could then be used more effectively for reviewing and auditing filings versus encoding these forms - which is very labor intensive and costly.

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Idea No. 2291