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File your TurboTax Return on your iphone

SnapTax From TurboTax Will Now Let You File Your Taxes From Your iPhone

(If You Live In CA)

The new upcoming iPhone application from Intuit called SnapTax is a Maxwell Smart futuristic reality. As you will see in the exclusive sneak peek demo video below, this app lets you snap a picture of your W2 form with your iPhone and then automatically fills in your tax return.

This application is set up to use optical character recognition (OCR) technology to translate the images into words and numbers. from there it then uploads into a light version of Intuitís TurboTax tax software to make it possible to complete your return. The tax filers then can correct any mistakes or make adjustments, enter additional data not on the W2 that's needed, answers any other questions necessary, and your done. File electronically from your iPhone and wait for that quick tax refund.

The OCR app is about 80 percent accurate on 3GS iPhones versus 60 percent accurate on 3G iPhones because 3GS phones have more sensitive camera lenses according to Intuit. It's a simple app that takes you through all the data it captures and lets you correct any inaccuracies as needed. See your refund (or tax owed) tally up as you go along with each step. Unfortunately as stated, it's for simple return but, look for more complicated tax return abilities in the future for people with mortgages, kids, and businesses. This is a first step in this direction so enhancements are sure to follow.

This application should be available for download in the iTunes store in mid-January, and will cost $9.99. It is only for people who file simple tax forms, although, this year the app will only work for California residents. This intro as Intuitís beta testers should quickly work out any bugs to make it more widely available next year. TurboTax files both federal and state tax returns for users so you'll be able to do it all prom your phone....

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