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US 11,386,504 B2Granted
Tax-implication payoff analysis
AssigneeHRB Innovations, Inc.
InventorSandee Astrachan
Life of this patent
Estimating the term…
Abstract
Tax payoffs are determined for potential income source exclusions, for potential tax deductions, for potential tax credits, and for other tax implications. Identifying the tax payoff may be based at least in part on the likeliness that the tax implication will apply to the taxpayer's situation, the expected monetary impact on the taxpayer's tax burden if it does apply, and the expected effort required to claim the tax implication. Based upon the tax payoffs, embodiments of the invention may then recommend potential tax implications, prioritize potential tax implications, eliminate potential tax implications from consideration, or take other actions to assist the taxpayer in efficiently and effectively prepare their tax return.
Claims17
One or more non-transitory computer-readable media storing computer-executable instructions that, when executed by a processor, performs a method of determining and presenting a potential tax implication to a taxpayer, the method comprising the steps of:
- obtaining a set of tax data related to the taxpayer;
- determining the potential tax implication for the taxpayer based at least in part on the set of tax data;
- determining that the potential tax implication requires no additional documentation beyond the set of tax data related to the taxpayer;
- accessing historical data from a tax return data store, wherein the tax return data store stores only data associated with tax return implications and statistics and does not store user identification data to retain anonymity for users;
- determining an estimated amount of time to complete the potential tax implication by analyzing the historical data and determining an average amount of time to complete the potential tax implication by other users;
- determining an estimated monetary impact of the potential tax implication;
- selecting the potential tax implication to present to the taxpayer based on the no additional documentation required, the estimated amount of time required to complete the potential tax implication, and the estimated monetary impact of the potential tax implication;
- presenting, by a user interface, the potential tax implication to the taxpayer prior to completing tax documents for a current tax period,
- wherein the potential tax implication is a first tax implication,
- determining a plurality of potential tax implications;
- comparing the plurality of potential tax implications;
- organizing the plurality of potential tax implications into a ranked order based at least in part on a ratio of the estimated monetary impact to the estimated amount of time to complete;
- and
- presenting the plurality of potential tax implications in the ranked order.
11 more elements
A method of determining and presenting a potential tax implication to a taxpayer, the method comprising the steps of:
- obtaining a set of tax data related to the taxpayer;
- determining the potential tax implication for the taxpayer based at least in part on the set of tax data;
- determining that the potential tax implication requires no additional documentation beyond the set of tax data related to the taxpayer;
- determining an estimated amount of time to complete the potential tax implication by:
- accessing historical data from a tax return data store,
- wherein the tax return data store stores only data associated with tax return implications and statistics and does not store user identification data to retain anonymity for users;
- analyzing the historical data and determining an average amount of time to complete the potential tax implication by other users;
- and
- analyzing a history of trends in the historical data of the taxpayer;
- determining an estimated monetary impact of the potential tax implication;
- selecting the potential tax implication to present to the taxpayer based on the no additional documentation required, the estimated amount of time required to complete the potential tax implication, and the estimated monetary impact of the potential tax implication;
- presenting, by a user interface, the potential tax implication to the taxpayer prior to completing tax documents for a current tax period,
- wherein the potential tax implication is a first tax implication,
- determining a plurality of potential tax implications;
- comparing the plurality of potential tax implications;
- organizing the plurality of potential tax implications into a ranked order based at least in part on a ratio of the estimated monetary impact to the estimated amount of time to complete;
- and
- presenting the plurality of potential tax implications in the ranked order.
15 more elements
A method of determining and presenting a potential tax implication to a taxpayer, the method comprising the steps of:
- obtaining a set of tax data related to the taxpayer;
- determining the potential tax implication for the taxpayer based at least in part on the set of tax data;
- determining that the potential tax implication requires no additional documentation beyond the set of tax data related to the taxpayer;
- determining an estimated amount of time to complete the potential tax implication by:
- accessing historical data from a tax return data store,
- wherein the tax return data store stores only data associated with tax return implications and statistics and does not store user identification data to retain anonymity for users;
- analyzing the historical data and determining an average amount of time to complete the potential tax implication by other users;
- and
- analyzing a history of interactions of the taxpayer;
- determining an estimated monetary impact of the potential tax implication;
- determining at least one other tax implication that is typically completed with the potential tax implication;
- selecting the potential tax implication and the at least one other tax implication to present to the taxpayer based on the no additional documentation required, the estimated amount of time required to complete the potential tax implication, and the estimated monetary impact of the potential tax implication;
- presenting, by a user interface, the potential tax implication and the at least one other tax implication to the taxpayer prior to completing tax documents for a current tax period,
- wherein the potential tax implication is a first tax implication,
- determining a plurality of potential tax implications;
- comparing the plurality of potential tax implications;
- organizing the plurality of potential tax implications into a ranked order based at least in part on a ratio of the estimated monetary impact to the estimated amount of time to complete;
- and
- presenting the plurality of potential tax implications in the ranked order.
16 more elements
Dependencies are inferred from the claim text.