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Intuit unveils TurboTax for Online Banking

The Basics of Mobile Tax Preparation.

TurboTax® is the #1 best-selling tax preparation software to file taxes online. Easily file federal and state income tax returns with % accuracy to get your. We would like to show you a description here but the site won’t allow us.

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Affiliates and subsidiaries means companies related by common ownership or control. The reasons why we share your information include for our everyday business purposes, such as to: Available for Digital Insight financial institutions to offer in the upcoming tax season, TurboTax for Online Banking won a Best of Show award at Finovate , a conference showcasing the best new innovations in financial and banking technology.

More than 90 percent of people who tried TurboTax for Online Banking during pilot testing who received a tax refund direct deposited that refund with the financial institution that offered the service. Consumers whose financial institutions offer TurboTax for Online Banking can pre-populate their tax forms with tax data from online banking to save time.

This will help people quickly and easily prepare, plan and file tax returns within an online banking session; no additional log in required. The solution can also be integrated with FinanceWorks, the award-winning online financial management solution from Intuit's financial institutions division, Digital Insight, to make tax preparation even easier for tax filers.

FinanceWorks helps online banking customers gain greater visibility and control over their spending with access to account information from more than 12, financial institutions and credit card sites. This aggregated, actionable view of their entire financial picture lets consumers and small businesses get even more data, such as charitable contributions captured in FinanceWorks, pre-filled to TurboTax Online Banking. We believe it will help financial institutions increase their deposits, develop stronger customer relationships and deliver unprecedented value.

And it supports financial institutions' efforts to become the primary online financial hub for their customers. Intuit research shows that 80 percent of consumers and small businesses name their bank or credit union Web site as the online destination they trust most to manage their money. Clicking an icon in the upper left corner opens a menu that lets you navigate among sections; it also displays your real-time refund or obligation and contains some housekeeping tasks, like the sign-out button.

There are three ways to enter your W-2 information. If not, you can take a picture with your mobile device's camera and let the app move the text and numbers into the correct boxes. Or you can type it all in yourself. If you choose the latter, you simply fill in all the blanks from your W-2 on one long screen.

When you finish, click the Continue button. The next page displays your current refund or obligation and explains how the app calculated that value. If you have no other W-2s, you move on to the other income sections.

Like its browser-based counterparts, the app offers two options for supplying the rest of your income. It can guide you one step at a time or you can select your income type s from a list. When you click on one, TurboTax Deluxe takes you to a mini-interview. It returns you to the Income list after you finish.

Click Wrap Up Income when you finish the section completely. The next section pertains to deductions and credits; this works the same way as the income section. Questions about your health insurance status and additional taxes come next. The last step is to complete the Other page, which gives you the options to apply your refund to next year and enter underpayment penalties. TurboTax Deluxe then checks your return for errors or omissions and gives you a chance to correct them.

It transfers applicable data to your state return and walks you through any additional information-gathering steps for your particular state, giving special attention to any credits that you might be able to claim to get your tax bill down.

The site also reviews your state return when you finish it. Once all issues are resolved, you can pay for TurboTax Deluxe and either file electronically or print your return in preparation for mailing. TurboTax has always excelled at providing numerous kinds of guidance as it interviews you about your tax-related information. It's also good at simplifying complex tax language.

On data-gathering pages, you can click Learn More links next to the questions if you're stumped. Sometimes the site also displays a context-sensitive question or statement.

When you finished reading, you click the X in the upper left to return to the previous screen. If you need more than the contextual help on the data-gathering screens, you can click the question mark in the upper right corner to launch the TurboTax Virtual Assistant.

This works differently than in the help center in the mobile version of TaxSlayer Classic. Instead of just typing in a word or phrase and getting a list of related articles, you carry on an ongoing dialogue with the Virtual Assistant. This can be a little confusing at first, but it works quite well.

Such categories include investment sales, self-employment and rental income, and capital gains. If you choose the latter, you simply fill in all the blanks from your W-2 on one long screen.

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Such categories include investment sales, self-employment and rental income, and capital gains. As always, we recommend that you start your return well before the tax deadline; this year it is April

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