T1426 - Administration of Deficient and Delinquent Tax Accounts

The State of New Jersey, Department of the Treasury, Division of Purchase and Property, has awarded Contract RFP 26-PROS1-130490 to Professional Account Management, LLC for the administration, resolution, and collection of deficient and delinquent tax accounts. This contract represents a transition from the previous contractor, Pioneer Credit Recovery, Inc., and maintains all pricing, terms, and conditions from the original solicitation. The contract is effective from January 1, 2026 through June 30, 2026, with a cumulative value of $7,144,943.04. The contractor is required to maintain a New Jersey office within a 40-mile radius of the Department of Taxation's main office in Trenton and provide services six days per week during specified operating hours.

The scope of work encompasses tax collection services and tax administrative support services for three primary debt categories: Business Deficiencies, Business Delinquencies, and Personal Income Tax Deficiencies. Compensation is structured as a revenue-based contingency fee calculated as a percentage of collected revenues based on collection amounts in specified brackets, with guaranteed minimum revenue requirements established for the contract period. Additionally, the contractor provides hourly labor services for four classifications—Manager/Assistant Manager, Supervisor, Call Agent/Assistant Supervisor, and Clerical/Support—with supplemental overtime rates available for Call Center Overflow Support Services related to the ANCHOR Program. The contractor must maintain a performance bond and professional liability insurance of at least $5,000,000 and commercial crime insurance of $3,000,000.