System and method for providing a loan to a taxpayer based on a pre year-end tax refund
DCFirst Claim
1. A computerized system for providing a loan to a taxpayer prior to the end of the current tax year, comprising:
- historical income tax refund data for said taxpayer, said historical income tax refund data comprising income tax refund amount data for at least one year prior to the current year and in a computer;
year-to-date income data for the current year, for said taxpayer, wherein said date is prior to the end of the current tax year and said year-to-date income data is in said computer;
year-to-date expense data for the current year, for said taxpayer, wherein said date is prior to the end of the current tax year and said year-to-date expense data is in said computer;
a process in said computer to determine prior to the end of the current tax year an estimated income tax refund amount for said taxpayer for said current tax year using said historical income tax refund data, said year-to-date income data for a date prior to the end of the current tax year, and said year-to-date expense data for a date prior to the end of the current tax year;
a loan provided to said taxpayer prior to the end of said current tax year in an amount based on said estimated income tax refund amount for said current tax year for said taxpayer as determined by said computer; and
an income tax refund for said current tax year, wherein said income tax refund is based on a tax return prepared using actual income and expense data and filed after said current tax year for said taxpayer and is applied to the balance of said loan based on said estimated income tax refund.
2 Assignments
Litigations
0 Petitions
Accused Products
Abstract
A system and method for providing to a taxpayer a loan in an amount based on the taxpayer'"'"'s estimated tax refund amount due for a current year, the loan being provided to the taxpayer prior to year end of the current tax year and prior to completion and filing of the taxpayer'"'"'s current year tax return forms with a taxing authority. The taxpayer'"'"'s estimated tax refund may be based on historical tax refund data as well as current year income data. A loan granting entity may consider the level of tax refunds that the taxpayer has received in previous years as well as income data for the first three quarters of the year to determine a reasonable estimate of the tax refund amount that the taxpayer will likely receive for the current tax year.
74 Citations
20 Claims
-
1. A computerized system for providing a loan to a taxpayer prior to the end of the current tax year, comprising:
-
historical income tax refund data for said taxpayer, said historical income tax refund data comprising income tax refund amount data for at least one year prior to the current year and in a computer; year-to-date income data for the current year, for said taxpayer, wherein said date is prior to the end of the current tax year and said year-to-date income data is in said computer; year-to-date expense data for the current year, for said taxpayer, wherein said date is prior to the end of the current tax year and said year-to-date expense data is in said computer; a process in said computer to determine prior to the end of the current tax year an estimated income tax refund amount for said taxpayer for said current tax year using said historical income tax refund data, said year-to-date income data for a date prior to the end of the current tax year, and said year-to-date expense data for a date prior to the end of the current tax year; a loan provided to said taxpayer prior to the end of said current tax year in an amount based on said estimated income tax refund amount for said current tax year for said taxpayer as determined by said computer; and an income tax refund for said current tax year, wherein said income tax refund is based on a tax return prepared using actual income and expense data and filed after said current tax year for said taxpayer and is applied to the balance of said loan based on said estimated income tax refund. - View Dependent Claims (2, 3, 4)
-
-
5. A computerized system for providing a loan to a taxpayer, comprising:
-
historical income tax refund data for said taxpayer, said historical income tax refund data comprising income tax refund amount data for at least one year prior to the current year and in a computer; year-to-date income data for the current year, for said taxpayer, wherein said date is prior to the end of the current tax year and said year-to-date income data is in said computer; a process in said computer to determine prior to the end of the current tax year an estimated income tax refund amount for said taxpayer for said current tax year using said historical income tax refund data, said year-to-date income data for a date prior to the end of the current tax year, and said year-to-date expense data for a date prior to the end of the current tax year; a loan provided to said tax payer prior to the end of said current tax year in an amount based on said estimated income tax refund amount for said current tax year for said taxpayer as determined by said computer; and an income tax refund for said current tax year, wherein said income tax refund is based on a tax return prepared using actual income data and filed after said current tax year for said taxpayer and is applied to the balance of said loan based on said estimated income tax refund. - View Dependent Claims (6, 7, 8)
-
-
9. A computerized system for providing a loan to a taxpayer, comprising:
-
historical income tax refund data for said taxpayer, said historical income tax refund data comprising income tax refund amount data for at least one year prior to the current year and in a computer; present job verification data for said taxpayer, said present job verification data in said computer; a process in said computer to determine prior to the end of the current tax year an estimated income tax refund amount for said taxpayer for said current tax year using said historical income tax refund data and said present job verification data; a loan provided to said taxpayer prior to the end of said current tax year in an amount based on said estimated income tax refund amount for said current tax year for said taxpayer as determined by said computer; and an income tax refund for said current tax year, wherein said income tax refund is based on a tax return prepared using actual data and filed after said current tax year for said taxpayer and is applied to the balance of said loan based on said estimated income tax refund. - View Dependent Claims (10, 11, 12)
-
-
13. A computerized system for providing a loan to a taxpayer prior to the end of the current tax year, comprising:
-
income information up to a date prior to the end of the current tax year, for said taxpayer, said income information in a computer; expense information up to a date prior to the end of the current tax year, for said taxpayer, said expense information in said computer; an income tax refund amount for at least one tax year prior to the current tax year, said income tax refund amount in said computer; a process in said computer to determine prior to the end of the current tax year an estimated income tax refund amount for said taxpayer for said current tax year using said income information up to a date prior to the end of the current tax year, said expense information up to a date prior to the end of the current tax year, and said income tax refund amount for at least one tax year prior to the current tax year; a loan provided to said taxpayer prior to the end of said current tax year in an amount based on said estimated income tax refund amount for said current tax year for said taxpayer; and an income tax refund for said current tax year, wherein said income tax refund is based on a tax return prepared using actual income and expense data and filed after said current tax year for said taxpayer and is applied to the balance of said loan based on said estimated income tax refund. - View Dependent Claims (14, 15, 16)
-
-
17. A computer-implemented method for providing a loan to a taxpayer prior to the end of the current tax year, said method comprising:
-
determining an income tax refund amount for at least one tax year prior to the current tax year; estimating at a computer said taxpayer'"'"'s income tax refund amount due for said current year prior to the end of said current tax year based on said income tax refund amount; providing a loan to said taxpayer prior to the end of the current tax year in amount based on said estimated income tax refund amount due for said current tax year for said taxpayer as determined by said computer; assigning said taxpayer'"'"'s income tax refund to said lender; preparing a tax return for said taxpayer using actual data after the end of the current tax year; filing said tax return with a taxing authority; receiving said taxpayer'"'"'s income tax refund from said taxing authority; and applying said taxpayer'"'"'s income tax refund to said loan based on said estimated income tax refund. - View Dependent Claims (18, 19, 20)
-
Specification