Methods, Systems, and Computer Program Products for Processing and/or Preparing a Tax Return and Initiating Certain Financial Transactions

Abstract

A tax return is processed by receiving tax information associated with a taxpayer where the tax information is in a plurality of formats. The tax information is converted into a common electronic format. A determination is made whether the tax information is sufficient to generate a tax return therefrom. A tax return is generated if the tax information has been determined to be sufficient.

That which is claimed: 
     
         1 . A method of processing a tax return, comprising:
 receiving tax information associated with a taxpayer;   determining if the tax information is sufficient to generate a tax return therefrom;   processing the tax information to generate a tax return responsive to the tax information having been determined to be sufficient to generate the tax return;   presenting the taxpayer with options for receiving value responsive to the taxpayer being entitled to a tax refund based on the generated tax return; and   presenting the taxpayer with options for paying a tax responsive to the taxpayer owing a tax based on the generated tax return.   
     
     
         2 . The method of  claim 1 , wherein presenting the taxpayer with options for receiving value comprises:
 filing the tax return electronically;   dispensing the tax refund to the taxpayer in cash responsive to the tax refund being below a threshold value;   issuing a check or money order to the taxpayer responsive to the tax refund not being below the threshold value and/or   issuing a government authorized check to the taxpayer.   
     
     
         3 . The method of  claim 1 , wherein presenting the taxpayer with options for receiving value comprises:
 filing the tax return electronically; and   receiving an instrument of value associated with a merchant.   
     
     
         4 . The method of  claim 1 , wherein presenting the taxpayer with options for receiving value comprises:
 filing the tax return electronically;   arranging for a refund anticipation financial instrument;   dispensing a spendable asset to the taxpayer from the refund anticipation financial instrument.   
     
     
         5 . The method of  claim 1 , wherein presenting the taxpayer with options for paying the tax comprises:
 filing the tax return electronically; and   paying the tax via cash, credit/debit card, and/or an electronic transfer of funds.   
     
     
         6 . The method of  claim 1 , wherein presenting the taxpayer with options for paying the tax comprises:
 printing the tax return at the time of preparation for subsequent filing by the taxpayer.   
     
     
         7 . The method of  claim 1 , wherein the tax information is in a plurality of formats, the method further comprising:
 converting the tax information into a common electronic format.   
     
     
         8 . The method of  claim 1 , further comprising:
 establishing an account with a financial institution responsive to the taxpayer being entitled to a tax refund based on the generated tax return.   
     
     
         9 . The method of  claim 1 , wherein determining if the tax information is sufficient to generate a tax return therefrom comprises:
 evaluating the accuracy of the tax information; and   confirming the accuracy of the tax information with the taxpayer.   
     
     
         10 . The method of  claim 1 , wherein determining if the tax information is sufficient to generate a tax return therefrom comprises:
 determining if any of the tax information is irrelevant; and   discarding any tax information determined to be irrelevant.   
     
     
         11 . The method of  claim 1 , further comprising:
 presenting at least one alternative tax strategy to the taxpayer.   
     
     
         12 . The method of  claim 1 , further comprising:
 presenting a targeted advertisement to the taxpayer.   
     
     
         13 . The method of  claim 1 , further comprising:
 providing communication access to a person who specializes in tax preparation in real time.   
     
     
         14 . The method of  claim 1 , further comprising:
 identifying the taxpayer using biometrics.   
     
     
         15 . A method of processing a tax return, comprising:
 receiving tax information associated with a taxpayer;   determining if the tax information is sufficient to generate a tax return therefrom;   processing the tax information to generate a tax return responsive to the tax information having been determined to be sufficient to generate the tax return; and   establishing an account with a financial institution responsive to the taxpayer being entitled to a tax refund based on the generated tax return.   
     
     
         16 . The method of  claim 15 , wherein the account with the financial institution is a conventional bank account. 
     
     
         17 . The method of  claim 15 , wherein the account with the financial institution is a transitory bank account for holding a refund anticipation loan. 
     
     
         18 . The method of  claim 15 , wherein the account with the financial institution comprises a savings purse that can only be accessed via a visit to the financial institution and a spending purse that can be accessed via a debit card, automatic teller machine (ATM) card, and/or a credit card. 
     
     
         19 . The method of  claim 15 , wherein the tax information is in a plurality of formats, the method further comprising:
 converting the tax information into a common electronic format.   
     
     
         20 . The method of  claim 15 , further comprising:
 presenting the taxpayer with options for receiving value responsive to the taxpayer being entitled to the tax refund based on the generated tax return; and   presenting the taxpayer with options for paying a tax responsive to the taxpayer owing a tax based on the generated tax return.   
     
     
         21 . The method of  claim 15 , wherein determining if the tax information is sufficient to generate a tax return therefrom comprises:
 evaluating the accuracy of the tax information; and   confirming the accuracy of the tax information with the taxpayer.   
     
     
         22 . The method of  claim 15 , wherein determining if the tax information is sufficient to generate a tax return therefrom comprises:
 determining if any of the tax information is irrelevant; and   discarding any tax information determined to be irrelevant.   
     
     
         23 . The method of  claim 15 , further comprising:
 presenting at least one tax strategy to the taxpayer.   
     
     
         24 . The method of  claim 15 , further comprising:
 presenting a targeted advertisement to the taxpayer.   
     
     
         25 . The method of  claim 15 , further comprising:
 providing communication access to a person who specializes in tax preparation in real time.   
     
     
         26 . The method of  claim 15 , further comprising:
 identifying the taxpayer using biometrics.   
     
     
         27 . A method of processing a tax return, comprising:
 receiving tax information associated with a taxpayer;   evaluating the accuracy of the tax information;   confirming the accuracy of the tax information with the taxpayer;   processing the tax information to generate a tax return;   presenting the taxpayer with options for receiving value responsive to the taxpayer being entitled to a tax refund based on the generated tax return; and   presenting the taxpayer with options for paying a tax responsive to the taxpayer owing a tax based on the generated tax return.   
     
     
         28 . The method of  claim 27 , wherein evaluating the accuracy of the tax information comprises:
 determining if any of the tax information is missing;   determining if any of the tax information is inconsistent;   determining if any of the tax information is incorrect; and/or   determining if any of the tax information is irrelevant.   
     
     
         29 . The method of  claim 28 , further comprising:
 querying the taxpayer to obtain new tax information to remedy any of the missing, inconsistent, and/or incorrect tax information.   
     
     
         30 . The method of  claim 27 , wherein confirming the accuracy of the tax information comprises:
 displaying the tax information for the taxpayer; and   receiving confirmation from the taxpayer that the tax information is correct.   
     
     
         31 . The method of  claim 27 , wherein the tax information is in a plurality of formats, the method further comprising:
 converting the tax information into a common electronic format.   
     
     
         32 . The method of  claim 31 , further comprising:
 establishing an account with a financial institution responsive to the taxpayer being entitled to the tax refund based on the generated tax return.   
     
     
         33 . The method of  claim 27 , further comprising:
 presenting at least one alternative tax strategy to the taxpayer.   
     
     
         34 . The method of  claim 27 , further comprising:
 presenting a targeted advertisement to the taxpayer.   
     
     
         35 . The method of  claim 27 , further comprising:
 providing communication access to a person who specializes in tax preparation in real time.   
     
     
         36 . The method of  claim 27 , further comprising:
 identifying the taxpayer using biometrics.   
     
     
         37 . A method of processing a tax return, comprising:
 receiving tax information associated with a taxpayer, wherein the tax information is in a plurality of formats;   converting the tax information into a common electronic format;   determining if the tax information is sufficient to generate a tax return therefrom;   processing the tax information to generate a tax return responsive to the tax information having been determined to be sufficient to generate the tax return;   presenting the taxpayer with options for receiving value responsive to the taxpayer being entitled to a tax refund based on the generated tax return; and   presenting the taxpayer with options for paying a tax responsive to the taxpayer owing a tax based on the generated tax return.   
     
     
         38 . The method of  claim 37 , wherein the formats comprise text stored on a paper-based source document. 
     
     
         39 . The method of  claim 37 , wherein receiving the tax information comprises:
 scanning the paper-based source document.   
     
     
         40 . A method of processing a tax return, comprising:
 scanning a tax return that has been filed with a revenue authority;   converting information on the tax return into an electronic format;   determining if the tax return contains an error;   generating an amended tax return responsive to a determination that the tax return contains the error;   presenting the taxpayer with options for receiving value responsive to the taxpayer being entitled to a tax refund based on the amended tax return; and   presenting the taxpayer with options for paying a tax responsive to the taxpayer owing a tax based on the amended tax return.   
     
     
         41 . The method of  claim 40 , further comprising:
 presenting the error to a taxpayer responsive to the determination that the tax return contains the error; and   receiving input from the taxpayer responsive to a presentation of the error.