Daily equity based tax solution
AssigneeUnited Technologies Corporation
InventorsMarc J. Fafard, Denise Ralls-Gaines
Life of this patent
Estimating the term…
Abstract
In a computer-implemented method for managing tax withholding liabilities, a notification of a non-standard compensation transaction is received. The non-standard compensation transaction is initiated during a time period covered by the notification. A resulting tax withholding liability is automatically calculated. A directive is automatically generated for directing a calculated tax withholding payment to be made and applied against the calculated tax withholding liability. The calculated payment is to be made to a tax authority on or before a calculated due date of the tax withholding liability.
Claims58
A computer-implemented method for managing tax withholding liabilities, the method comprising:
- receiving a notification of a non-standard compensation transaction initiated during a time period covered by the notification;
- automatically calculating a tax withholding liability resulting from the non-standard compensation transaction;
- automatically generating a directive for a calculated tax withholding payment to be made and applied against the calculated tax withholding liability, the calculated payment to be made to a tax authority on or before a calculated due date of the tax withholding liability.
A computer-implemented method for managing tax withholding liabilities, the method comprising:
- receiving a first electronic data file containing notification of one or more non-standard compensation transactions initiated during a notification time period;
- automatically calculating one or more tax withholding liabilities which result from any non-standard compensation transaction notifications contained in the first electronic data file;
- and
- automatically generating a second electronic data file containing a directive for a tax payment module to make and apply a tax withholding payment against the one or more calculated tax withholding liabilities, the tax withholding payment to be made to a tax authority on or before a due date.
A computer-implemented method for managing tax withholding liabilities using a payroll system, the method comprising:
- receiving a tax payment directive after initiation of a non-standard compensation transaction;
- making a calculated tax withholding payment described in the directive on or before a due date of a calculated tax withholding liability, the calculated tax withholding liability resulting from the non-standard compensation transaction;
- and
- preventing the payroll system from making a subsequent tax withholding payment substantially duplicative of the calculated tax withholding payment.
Dependencies are inferred from the claim text.