Patent Number: 7,765,132

Title: Tax refund system

Abstract: A tax refund system is disclosed in which in exchange for a taxpayer assigning all or a portion of his or her tax refund, a participating provider provides to the taxpayer a spending vehicle with buying power at participating outlets. Tax return data for an individual's tax return is processed by the IRS. A taxpayer consents to using a portion of the tax return data to acquire a spending vehicle from a financial institution of the taxpayer's choosing. Using a portion of the tax return data, the IRS arranges to electronically transfer an amount related to the taxpayer's refund to an account at the financial institution selected by the taxpayer. A taxpayer then receives a spending vehicle such as a credit, debit, or cash card, spending account, coupon, or rebate from a financial institution or other spending vehicle provider such as a retailer, service provider, wholesaler, distributor, or entertainment entity.

Inventors: Wilson; Robert D. (Shawnee, KS), Ernst; Mark A. (Mission Hills, KS)

Assignee: H&R Block Tax Services, LLC

International Classification: G07B 17/00 (20060101); G07F 19/00 (20060101); G06K 5/00 (20060101); G06Q 20/00 (20060101); G06Q 40/00 (20060101)

Expiration Date: 7/27/12018