Unisys Wins Task Order to Continue to Assist in Maintaining Code Essential to Fuel Tax Collection
RESTON, Va., May 2, 2017 – Unisys Corporation (NYSE: UIS) today announced the U.S. Internal Revenue Service (IRS) has selected the company to continue its work updating, operating and maintaining the system used by the U.S. government to verify and monitor excise fuel tax filings. The IRS selected Unisys for this work through a competitive task order awarded under the Total Information Processing Support Services–4 (TIPSS-4) contract.
The task order has a one-year base period and three one-year options. The task order has a total value of approximately $17.6 million, if all options are exercised and depending on actual costs.
The task order represents an extension and expansion of the company's work on the Excise Files Information Retrieval System (ExFIRS). Congress has mandated that IRS use ExFIRS to verify the collection of fuel excise taxes – taxes paid when purchases are made on specific goods such as gasoline – and analyze motor fuel industry information to identify areas of noncompliance with excise law.
Under the task order, Unisys will be responsible for maintaining ExFIRS code to ensure compliance with legislative mandates and any changes made to IRS processes during the term of the contract. Unisys also will develop, upgrade and modernize ExFIRS software as needed, incorporating agile methodologies where appropriate.
"We are looking forward to continuing our successful work with the IRS and to help them to ensure appropriate payment of excise fuel taxes," said Venkatapathi "PV" Puvvada, president, Unisys U.S. Federal. "This award represents another milestone in Unisys' relationship with a government client performing critical work on behalf of U.S. citizens."
For more information on Unisys U.S. Federal, visit our website at www.unisys.com/industries/government/us-federal.
Any statements contained in this release that are not historical facts are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. All forward-looking statements rely on assumptions and are subject to various risks and uncertainties that could cause actual results to differ materially from expectations. In particular, statements concerning the potential total value of the contract are based on the assumption that all options will be exercised, that the contract will continue for its full four year potential term, and that costs are as estimated. That is not guaranteed, because options are exercisable at the sole discretion of the government and agreements with government agencies are terminable before the end of their terms and are subject to the availability of appropriated funds. Additional discussion of factors that could affect Unisys future results is contained in our periodic filings with the Securities and Exchange Commission.
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RELEASE NO.: 0502/9503
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