System and method for tax filing, data processing, data verification and reconciliation

Abstract

A system and method for processing transaction and use tax data, verifying tax calculations / determinations, reconciling calculation / determination errors, and filing and / or paying taxes owed to the appropriate jurisdictions is provided.

Description

CROSS-REFERENCE TO RELATED APPLICATIONS[0001]This application is a continuation of co-pending U.S. patent application Ser. No. 13 / 603,400 (Parent Application) which was filed Sep. 4, 2012 and claims priority pursuant to 35 U.S.C. 119(3) to then co-pending U.S. Provisional Patent Application Ser. No. 61 / 530,674, filed Sep. 2, 2011, and U.S. Provisional Patent Application Ser. No. 61 / 696,421, filed Sep. 4, 2012. The entire disclosures of the Parent Application and the Provisional Patent Applications are incorporated herein by reference.FIELD OF THE INVENTION[0002]The present invention relates generally to the field of data processing, verification, reconciliation and reporting. More particularly, the present invention relates to a system and method for processing transaction and use tax data, verifying tax calculations / determinations, reconciling calculation / determination errors, and filing and / or paying taxes owed to the appropriate jurisdictions.BACKGROUND OF THE INVENTION[0003]The ...

AI Technical Summary

Benefits of technology

[0011]A user also may access information stored in database(s) accessible by the computer program regarding tax rates for a particular jurisdiction during a particular time period. The computer program will link the user to the USPS website to look up information regarding a ZIP code for a particular address, in the event address information appears to be incorrect in the data from the user. The computer program further allows a user to access various types of data for technical support and data about the system, which is stored in one or more databases accessible by the computer program.

[0028]A flexible self mapping option allows user to create multiple maps in and through the computer program in lieu of IT creating a rigid data file that fits the application. Mapping technology of the inventive concept recognizes the data header on the uploaded file and prepopulates this information for easy mapping. If an item is not mapped correctly, the user can change just the troubled field without dumping the whole map. In preferred embodiments, the computer program reads the data file and automatically create the origin fields—half the map is automatically created. Once a tax map is created the client / system user selects and reuses the map each month.

[0031]In some embodiments, the system of the instant inventive concept can consume an excel (or other format) data file that has embedded messages, additional content in secondary tabs, mixed data variables, mixed format types and cell formulas. In some embodiments, an system user may change bad data fields in the upload file and the system will apply correction instantly. The system user does not have to dump the data, fix and reload.

[0032]Some embodiments utilize Automated jurisdiction comparison for nexus validation. In some embodiments, the system can suppress data records that are not needed. In some embodiments one correction of data can parlay fixing multiple data errors.

[0059]The work flow / design of preferred embodiments utilizes a simple administrative dashboard that allows a user to utilize simple clicks of links or buttons and load changes to data.

Problems solved by technology

The collection and filing of transaction (and / or use) tax for the sale of goods and / or services is an increasingly difficult task for many businesses, particularly with the sale of goods / services to customers across many different tax jurisdictions.

Nevertheless, such systems often lack the ability for users to verify tax data, check for errors and reconcile errors with the filing workflow.

Moreover, many tax filing systems do not provide for data generated (EDI, XML, CSV) through a single sourced application owed in appropriate jurisdictions.

Furthermore, to the extent current tax engine filing systems do generate sales tax data in a format that can be electronically filed, such systems which are designed specifically as not customer driven, are a considerable investment for businesses and usually require complete replacement of existing systems for which the businesses have already obtained at a considerable expense.

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