Patent ID: 8370228
Filing Date: 2013-02-05
Classification: G06Q

Abstract:
1. A computer-implemented method, comprising: preparing, by a tax program executing on at least one computer processor, a tax return to a first tax authority for a taxable entity, wherein the tax return indicates a refund due to the taxable entity from the first tax authority; allocating, using the at least one computer processor, the refund due to the taxable entity from the first tax authority to be paid to one or more institutions for payment of a debt or obligation of the taxable entity, wherein the debt or obligation exists before the refund is determined; transmitting, by the tax program, using the at least one computer processor, to at least one financial institution for the first tax authority, a first message comprising first tax refund allocation instructions, the first tax refund allocation instructions comprising identification information of the taxable entity, a distribution indicator to the one or more institutions, and an amount of the refund; transmitting, by the tax program, using the at least one computer processor, to the at least one financial institution, for the one or more institutions, a second message comprising second tax refund allocation instructions, the second tax refund allocation instructions comprising the identification information of the taxable entity, identification of the first tax authority, the amount of the refund, and a source for paying a remaining balance of the debt or obligation, distributing, by the at least one financial institution, the refund to the one or more institutions in payment of the debt or obligation in accordance with the first tax refund allocation instructions and paying the remaining balance from the source to the one or more institutions in accordance with the second tax refund allocation instructions.