Melissa Lobiondo

US Patent:

8392310, Mar 5, 2013

Filed:

Nov 11, 2010

Appl. No.:

12/944042

Inventors:

Christopher T. Praisner - Austin TX, US
Duncan P. Van Dusen - Austin TX, US
Mark C. Adams - Austin TX, US
Melissa LoBiondo - Austin TX, US
Michael R. McNally - Austin TX, US
William M. Smith - Austin TX, US

Assignee:

Tango Health, Inc. - Austin TX

International Classification:

G06Q 40/00

US Classification:

705 36T

Abstract:

Systems and methods are disclosed for automated identification and processing of qualifying expenses for tax-advantaged accounts and automated initiation of related account transactions for automated management of those tax-advantaged accounts. In part, the disclosed embodiments: identify expenditures which are eligible for tax-advantaged payment, withdrawal or reimbursement from a limited-purpose tax-advantaged account; store records with relevant details of expenditures to demonstrate eligibility for favorable tax treatment; calculate the amount of and executing contributions to limited-purpose tax-advantaged accounts as a function of account holder preferences, statutory limits and prospective or prior qualifying expenditures from other accounts; identifying withdrawals from limited-purpose tax-advantaged accounts which do not qualify for the tax advantage and restoring those monies to the account or offsetting them against amounts otherwise reimbursable from the account; and automatically reimbursing the account holder from his limited-purpose tax-advantaged account as a function of account holder preferences, information about qualifying expenditures made from another account or contributions to the account.