Financial Institution Data Match

Financial Institution Data Match

What problem does it solve? At the Division of Taxation we employ the services of a vendor to collect unpaid, judged debts from taxpayers through an application. The vendor developed relationships with every banking institution in NJ. A list of judged debtors is sent to banks and banks send back any account info that they have on the debtor. We then serve a levy to the identified bank to collect the debt from the debtor. What is your solution and who does it apply to? My solution is to implement this program statewide to every state government institution that has an interest in collecting debts from judged debtors. My colleagues and I trained the Taxation field offices to utilize this easy to learn application to increase their collections. What is the anticipated impact? Increased revenue for the state and increased future compliance with agency regulations.

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