Electronic income tax refund system utilizing the tax refund to underwrite issuance of a secured credit card
June 19, 2015. Estimated Expiration Date is calculated based on simple USPTO term provisions. It does not account for terminal disclaimers, term adjustments, failure to pay maintenance fees, or other factors which might affect the term of a patent.Patent ReferencesFinancial data processing system Securities brokerage-cash management system Securities brokerage-cash management system obviating float costs by anticipatory liquidation of short term assets Method and apparatus for benefit and financial communication Banking/brokerage computer interface system Data processing methods and apparatus for managing vehicle financing Electronic income tax refund early payment system Electronic income tax refund early payment system with means for creating of a new deposit account for receipt of an electronically transferred refund from the IRS Patent #: 5193057 InventorAssigneeApplicationNo. 491615 filed on 06/19/1995US Classes:705/35, Finance (e.g., banking, investment or credit)705/31, Tax preparation or submission705/39Including funds transfer or credit transactionExaminersPrimary: Hayes, Gail O.Assistant: Yount, Steven R. Attorney, Agent or FirmInternational ClassG06F 017/60AbstractElectronic data processing system for preparation of electronically filed tax returns and authorization and payments of refunds based on the data supplied in those returns. Electronic data processing programs are provided for creating an electronic tax return that is filed with a tax collecting authority. At the same time as the electronic tax return is created a loan application is processed to create an electronic deposit/loan account for the tax filer at an authorized credit institution. The tax filer can receive a loan or use the tax refund as collateral for a secured credit card. As early as the day after completion of the tax return and loan application, the tax filer receives initial refund payment from the loan account. The authorized credit institution electronically files the electronic tax return with the tax collecting authority which processes the return and transfers by electronic fund transfer the refund amount to the deposit/loan account at the authorized credit institution. Any refund in excess of the initial refund payment is then forwarded to the tax filer. Provision is also made for checking the credit worthiness of the tax filer.Other References
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