Share the printer; for this tutorial we'll call it "epson":

Go to Printers and Faxes in the control panel.  Left click the printer, go to properties, then click the share tab.  CLick the "Share this printer" circle, and call it "epson". IF you have options there to set up or just enable file sharing, click the just enable file sharing portion that is underlined, then share the printer.

Check what your "computer name" is: Start > Control Panel >> SYSTEM > (Computer name), and  Write it down.

Go to START > Run, and type "command" for a DOS prompt, and type:

net use lpt1: \\"computer name"\"epson" /persistent:yes <press enter>

Do not use the quotes, just what the names are, then type: net use <press enter>, and it should display the information.  If you do not use the "/persistent" flag, when you reboot the PC, it will not spool dos jobs.

Now, when anything prints to the LPT1 port, it gets redirected to the USB port, using the shared printer name.

If the program you are using ONLY prints text, then set the Print Processor to TEXT:
Go to Printers and Faxes, left click the printer, and select properties, ADVANCED.
Then click on the Print Processor tab, change to TEXT, APPLY > OK.

This was done with a program called FILE EXPRESS, that is a DOS database that prints reports in TEXT only.   I have a few customers with this old, but VERY useful database program, and I still use it and set it up for customers with certain businesses. 

Once you print, it may take a minute or two to print.  If this does NOT work, then you need another method, however, it has worked for me.