METHOD FOR ENCOURAGING REPORTING OF INCOME/TIPS BY SOLE PROPRIETORS AND EMPLOYEES OF CASH BASED BUSINESSES

• US 20070244774A1
• Filed: 03/27/2007
• Published: 10/18/2007
• Est. Priority Date: 12/14/2005
• Status: Active Grant

• Current Assignee: Alina Deibler
• Original Assignee: Alina Deibler
• Inventors: DEIBLER, ALINA
• Granted Patent: US 9,734,534 B2
• Time in Patent Office: Days
• US Class Current: 705/30
• CPC Class Codes: G06Q 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03
• CPC Class Codes: G06Q 40/12 Accounting
• CPC Class Codes: G07F 19/00 Complete banking systems; Coded card-freed arrangements adapted for dispensing or receiving monies or the like and posting such transactions to existing accounts, e.g. automatic teller machines data processing equipment for bank accounting G06Q40/02

Abstract

A method for reporting cash transactions comprises: registering with the federal and local government as a cashed based business; reporting of cash transaction by the cash based business at designated time frames; offering benefits by the federal and local government to the cash based business for accurate reporting of cash transactions; and accessing a penalty to the cashed based business if reporting of cash transactions by the cash based business is not done by the designated time frame.

Claims

1. A method for reporting cash transactions comprising:

registering with the federal and local government as a cashed based business;

reporting of cash transaction by the cash based business at designated time frames;

offering benefits by the federal and local government to the cash based business for accurate reporting of cash transactions; and

accessing a penalty to the cashed based business if reporting of cash transactions by the cash based business is not done by the designated time frame.

2. The method of claim 1 wherein reporting of cash transaction by the cash based business at designated time frames comprises:

coupling each cash register of the cashed based business to the IRS;

recording data for each cash transaction by each cash register; and

transferring the data of each cash transaction to the IRS at designated time frames.

3. The method of claim 2 wherein reporting of cash transaction by the cash based business at designated time frames further comprises indicating for each transaction one of a cash transaction or non-cash transaction.

4. The method of claim 2 wherein recording data for each cash transaction by each cash register comprises capturing an amount, time stamping, and storing each cash transaction.

5. The method of claim 1 wherein reporting of cash transaction by the cash based business at designated time frames comprises:

accessing IRS website via a computer;

entering identifying information into the computer to access IRS website;

confirming identifying information is valid; and

entering data of each cash transaction.

6. The method of claim 5 further comprising confirming data entered for each cash transaction.

7. The method of claim 6 further comprising printing a summary.

8. The method of claim 5 wherein entering identifying information into the computer to access IRS website comprises:

entering a user ID;

entering a user ID password; and

entering a tax ID number.

9. The method of claim 1 wherein reporting of cash transaction by the cash based business at designated time frames comprises entering data related to rental property.

10. The method of claim 9 wherein entering data related to rental property comprises determining if a property is a rental property;

transfer data on cash received from the rental property to the IRS; and

storing date on cash received from the rental property to a tax ID number of rental property owner.

11. The method of claim 10 wherein determining if a property is a rental property comprises reviewing utility records, county accessor records, public documents related to the rental property.

12. The method of claim 1 wherein reporting of cash transaction by the cash based business at designated time frames comprises entering data related to gas and mileage.

13. The method of claim 12 further comprising:

entering tax ID number;

entering mileage data; and

entering amount of fuel purchased.

14. A method for reporting cash transactions comprising:

registering with the federal and local government as a cashed based business;

reporting of cash transaction by the cash based business at designated time frames, wherein reporting of cash transaction comprises;

coupling each cash register of the cashed based business to the IRS;

indicating for each transaction one of a cash transaction or non-cash transaction;

recording data for each cash transaction by each cash register; and

transferring the data of each cash transaction to the IRS at designated time frames.

offering benefits by the federal and local government to the cash based business for accurate reporting of cash transactions; and

accessing a penalty to the cashed based business if reporting of cash transactions by the cash based business is not done by the designated time frame.

15. The method of claim 14 wherein recording data for each cash transaction by each cash register comprises capturing an amount, time stamping, and storing each cash transaction.

16. A method for reporting cash transactions comprising:

registering with the federal and local government as a cashed based business;

reporting of cash transaction by the cash based business at designated time frames, wherein reporting of cash transaction comprises;

accessing IRS website via a computer;

entering identifying information into the computer to access IRS website;

confirming identifying information is valid; and

entering data of each cash transaction.

offering benefits by the federal and local government to the cash based business for accurate reporting of cash transactions; and

accessing a penalty to the cashed based business if reporting of cash transactions by the cash based business is not done by the designated time frame.

17. The method of claim 16 further comprising confirming data entered for each cash transaction.

18. The method of claim 17 further comprising printing a summary.

19. The method of claim 16 wherein entering identifying information into the computer to access IRS website comprises:

entering a user ID; and

entering a user ID password.

20. The method of claim 16 wherein entering identifying information into the computer to access IRS website comprises entering a tax ID number.