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Tax Liability And Deductions Verification System

  • US 20120036053A1
  • Filed: 10/12/2011
  • Published: 02/09/2012
  • Est. Priority Date: 06/11/2007
  • Status: Active Grant
First Claim
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1. A computer implemented method for verifying tax liability and tax deductions reported by taxable entities, comprising:

  • providing a tax monitoring platform comprising a database management system for storing, managing, and retrieving information on said tax liability and said tax deductions reported by said taxable entities, wherein said tax monitoring platform is accessible by said taxable entities over a network, via a user interface provided by said tax monitoring platform;

    dynamically generating one or more tax forms specific to each of said taxable entities based on characteristic information of said taxable entities, by said tax monitoring platform;

    acquiring tax information filled into said dynamically generated one or more tax forms by said taxable entities, by said tax monitoring platform via said user interface and storing said acquired tax information in said database management system;

    extracting tax elements from said acquired tax information by said tax monitoring platform and transforming said extracted tax elements to conform to a predetermined template defined by said database management system;

    determining an association between a first of said taxable entities and a second of said taxable entities based on said extracted tax elements of each of said taxable entities by said tax monitoring platform using said database management system; and

    comparing said extracted tax elements of said first of said taxable entities with said extracted tax elements of said second of said taxable entities based on said association by said tax monitoring platform using said database management system, for determining accuracy of reporting of said tax information by said taxable entities;

    whereby said determination of said accuracy of said reporting of said tax information by said taxable entities verifies said tax liability and said tax deductions reported by said taxable entities.

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