System and method to allow verification of income and/or verification of employment for a US Citizen or person using Federal employment tax deposit data, also known as FICA taxes collected by the IRS and reported to the IRS, SSA, Medicare or other US Government sources deposited by a person's employer or through tax payments and filings of self-employed persons.

摘要

This is a system and method that will allow a person to give permission for a US government agency to release the dollar amount of their withholding for FICA (Federal Insurance Contributions Act) consisting of Social security tax and Medicare tax. The release of this information will be for a specified amount of time (example of 1 year, 2 years, 3 years, etc.) to a designated third party (hereinafter referred to patent holder). Once this information is released to a certified third party (hereinafter referred to as the patent holder) this information will be used to reverse engineer the gross pay of a person and may also include the entity (employer) that made the payment.;Companies are required to submit FICA taxes annually, quarterly, monthly or semiweekly depending on the size of the deposit. This is valuable date and the release of the amount of tax for a person will allow the TPPH to reverse engineer via mathematical calculation based on tax rate to determine the gross pay of a person;Once the designated third party obtains this information, the information will be formatted to produce a Verification of Employment w/income that is consummate with the VOE's that are currently used across industries (example, mortgage, tenant screening, etc.) this information may also be furnished to prospective employers to verify the past income of an applicant.;This Gross pay would be released to other third parties at the discretion of the person initiating the request. For example, a person applying for a mortgage or to lease an apartment would authorize the patent holder to present an annual/monthly or weekly income to the entity. The patent holder would then furnish a report based on that information.