METHOD FOR ENCOURAGING REPORTING OF INCOME/TIPS BY SOLE PROPRIETORS AND EMPLOYEES OF CASH BASED BUSINESSES
First Claim
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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.
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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.
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Citations
20 Claims
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1. A method for reporting cash transactions comprising:
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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. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13)
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14. A method for reporting cash transactions comprising:
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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. - View Dependent Claims (15)
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16. A method for reporting cash transactions comprising:
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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. - View Dependent Claims (17, 18, 19, 20)
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Specification