SOURCE: Portfolio Recovery Associates

Portfolio Recovery Associates

June 21, 2011 09:07 ET

City of Semmes Partners With Revenue Discovery Systems (RDS) to Administer Local Sales Tax

BIRMINGHAM, AL--(Marketwire - Jun 21, 2011) - The newly incorporated City of Semmes, Ala. is contracting with Revenue Discovery Systems (RDS) to provide a comprehensive sales/use, rental/lease, and lodging tax administration program for the City, RDS announced today.

RDS is a division of PRA Government Services, LLC, a wholly owned subsidiary of Portfolio Recovery Associates, Inc. (NASDAQ: PRAA). For more information, please visit www.revds.com.

Under the agreement, RDS will begin administering local taxes as of Aug. 1, 2011, with a due date of Sept. 20, 2011. RDS also will ensure compliance of local taxes, including auditing of taxpayers deemed non-compliant under state law. The city council voted and announced the decision during the June 16 council meeting.

"With the addition of Semmes, RDS presently works with nine municipalities in Mobile County," said Stephen Morris, vice president of Client Services, RDS. "We look forward to continuing our relationship with the taxpayers of Mobile County as we begin this partnership with the City of Semmes."

RDS will mail notifications to taxpayers on July 1. Forms and information concerning the remittance of taxes and due dates will be included in this mailing. There is also a toll-free number (800.556.7274) for taxpayers to call with any questions concerning tax remittance and a complete Frequently Asked Questions section under the Taxpayer area of the RDS website (www.revds.com). RDS will also conduct a Taxpayer Education Day in July to educate taxpayers on online filing and assist in taxpayer registration.

"We are looking forward to working with RDS as we begin this process," said Mayor Judy Hale. "There are a lot of jurisdictions that work with RDS in this part of Alabama, and we feel that this is the best decision concerning the administration of our tax revenues."

Taxpayers will have the opportunity to remit their taxes online through the RDS online payment portal at www.salestaxonline.com.

About the Smart Government Awards:
RDS developed the Smart Government Awards to recognize innovative governments and
efficient programs in Alabama. The Approval Committee evaluates nominees based on efforts to enhance growth and reduce waste in spending, time and resources, particularly in regards to the environment.

About RDS:
Based in Birmingham, Ala., RDS is a government services company providing revenue enhancement support services to state and local government in the areas of tax administration, revenue discovery and recovery, and compliance audit examination. Each year, RDS processes billions of dollars in business taxes, licenses and fees and has simultaneously discovered and recovered millions in unpaid revenues. For more than 30 years, RDS has been committed to delivering government solutions based on outstanding value, competitive pricing, exceptional customer service and compliance with the highest professional standards. RDS currently provides tax administration services for more than 450 state and local government clients and manages 700+ professional service contracts.

About Portfolio Recovery Associates, Inc.
Portfolio Recovery Associates, Inc. (NASDAQ: PRAA), a specialized financial services company, is a market leader in the consumer debt purchase and collection industry. The Company, which has purchased more than $56 billion of defaulted consumer debt since its inception, has operations in 10 states, approximately 25 million customer accounts and more than 2,500 employees. Portfolio Recovery Associates also provides a broad range of fee-based services through its subsidiaries: PRA Government Services, LLC; MuniServices, LLC; PRA Location Services, LLC; and Claims Compensation Bureau, LLC. Working every day with people in financial distress, the Company seeks to engage collaboratively with its customers to create realistic, affordable repayment plans. Portfolio Recovery Associates has a longstanding culture of compliance, and for four consecutive years has been named to the Forbes 100 Best Small Companies in America annual rankings list (2007 - 2010). Additional information about Portfolio Recovery Associates is available at www.portfoliorecovery.com.