Intuit Inc. (NASDAQ:INTU), the company best known for designing TurboTax and acquiring Mint.com has announced that they have created a mobile application called SnapTax. SnapTax lets you prepare and file tax returns. SnapTax will be very useful to filers of the simplified income tax 1040EZ form for people that make less than $100,000 per year, do not have dependents, and have meet other qualifications.
The SnapTax app asks you to take a photo of the W-2 form that your employer provides and it attempts to auto-fill the information in the 1040EZ form such as the name, social security information, and wages. Users then fill in the blanks and check for accuracy before hitting the “File Now” button. The form is then submitted to the state and the IRS. The Intuit application automatically calculates how much the filer can expect in refunds too.
SnapTax will be available for free from the Apple App Store and the Android Market. However submitting each form to the IRS costs $14.99.