System and method for capturing sales tax deduction information from monetary card transactions

A method for managing sales tax information associated with purchases made using a financial account, the method comprising:

• using one or more computer processors, receiving transaction information associated with a transaction made with a merchant using the financial account, the transaction information received electronically from the merchant at the time of the transaction and used to process the transaction, the transaction information comprising sales tax information for the transaction;
• storing the sales tax information using a data management system;
• providing the sales tax information associated with the previously made transaction to a user in response to a request for the sales tax information;
• determining, in response to the user request, whether the received transaction information is missing a piece of desired sales tax information;
• and
• transmitting, via an application interface, the missing piece of desired sales tax information to a tax preparation application, wherein the application interface allows the missing piece of desired sales tax information to be formatted and populated in a tax return.

A computer-accessible medium encoded with computer program code effective to perform the following:

• receive transaction information associated with a transaction made with a merchant using the financial account, the transaction information received electronically from the merchant at the time of the transaction and used to process the transaction, the transaction information comprising sales tax information for the transaction;
• store the sales tax information using a data management system;
• provide the sales tax information associated with the previously made transaction to a user in response to a request for the sales tax information;
• determine, in response to the user request, whether the received transaction information is missing a piece of desired sales tax information;
• and
• transmit, via an application interface, the missing piece of desired sales tax information to a tax preparation application, wherein the application interface allows the missing piece of desired sales tax information to be formatted and populated in a tax return.