Abstract: A computer implemented method and system for verifying tax liability and tax deductions reported by taxable entities. A tax monitoring platform comprising a database management system dynamically generates one or more tax forms specific to each taxable entity based on characteristic information of the taxable entities. The tax monitoring platform acquires tax information filled into the tax forms by the taxable entities via a user interface, extracts tax elements from the tax information, and transforms the tax elements to conform to a predetermined template. The tax monitoring platform determines an association between a first taxable entity and a second taxable entity based on the tax elements of each of the taxable entities, and compares the tax elements of the first taxable entity with the tax elements of the second taxable entity based on the association using the database management system, for determining the accuracy of reporting of tax information.

Abstract: A computer implemented method and system for verifying tax liability and tax deductions reported by taxable entities. A tax monitoring platform comprising a database management system dynamically generates one or more tax forms specific to each taxable entity based on characteristic information of the taxable entities. The tax monitoring platform acquires tax information filled into the tax forms by the taxable entities via a user interface, extracts tax elements from the tax information, and transforms the tax elements to conform to a predetermined template. The tax monitoring platform determines an association between a first taxable entity and a second taxable entity based on the tax elements of each of the taxable entities, and compares the tax elements of the first taxable entity with the tax elements of the second taxable entity based on the association using the database management system, for determining the accuracy of reporting of tax information.

Abstract: To allow tax collection agencies to identify underreporting of income by individuals, landlords and vendors, new methods have been developed to ensure that tax revenues are reported accurately and lay the foundation for sharing data amongst the different agencies. Presently, cost effective methods do not exist to ensure that individuals, landlords, and vendors are obeying the tax laws.