Patent ID: 8036959
Filing Date: 2011-10-11
Classification: G06Q

Abstract:
1. A method executed by a data processing system for automatic payment of an estimated tax due to a taxing authority by a payment due date, the method comprising: receiving financial data corresponding to a customer; storing said financial data; determining a schedule of periodic transfers to be made during an escrow period leading up to the payment due date; in at least two transactions prior to or on the payment due date, according to the schedule of periodic transfers, transferring by means of one or more data messages, an amount of money from a monetary source corresponding to said customer to a second account, where the sum of the transferred amounts of money is approximately equal to or more than the estimated tax due by the payment due date, the customer being able during the escrow period to control and adjust the schedule of periodic payments and to block and override the transfers; and in a single transaction prior to or on the payment due date, transferring from the second account, by means of one or more data messages, an amount of money approximately equal to or more than the estimated tax to an account held or controlled by the taxing authority.