BOSTON (TheStreet) -- What could make filing taxes cool? How about an iPhone app?
At the Consumer Electronics Show in Las Vegas, which begins today, TurboTax software firm Intuit (INTU) will unveil an iPhone application that allows users to quickly file state and federal taxes by snapping a photo of their W-2 form.
The application, SnapTax, will initially be limited to residents of California. It can be purchased via Apple's (AAPL) iTunes service for $9.99 starting Jan. 15. The cost includes federal and state tax preparation, and electronic filing.
The program relies on optical character recognition software to process tax form data. Users answer a handful of prompted questions, review the displayed information and click "send" to file."We weren't really sure whether people would take this seriously and actually finish their taxes on the phone," says Barry Saik, vice president of product management for TurboTax. "You can take the view that this is kind of a crazy thing to try to do." In its initial version, the application is geared toward filers with straightforward returns. Simple returns, using the 1040-A and 1040-EZ forms, account for 70% of all filings. Future versions may link directly to an online site that can help process more complex returns.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV