UPDATED 10:01 EDT / FEBRUARY 23 2011

Know Your Tech Tax ToolBox

The Internal Revenue Service has lit the torch, having officially opened the tax filing season.  It’s no surprise that the IT sphere is also meddling with the on-going financial craze. The triumvirate, TurboTax, H&R Block and TaxACT, experienced sudden spike in activities and visitors in the United States last January, according to comScore Media Metrix data. But, how do these online tools work to taxpayers’ advantage?  Big data and real time analysis play important roles as consumers lean on technology and web and mobile apps to manage their taxes in 2011.

The IRS offers its first smartphone app this year, called IRS2Go. This app is a very handy instrument to verify the status of tax refund and get hold of useful tax information. IRS Commissioner Doug Shulman expressed the opportunity they saw in utilizing technology to reach out to taxpayers. He said, “This new smartphone app reflects our commitment to modernizing the agency and engaging taxpayers where they want when they want it. As technology evolves and younger taxpayers get their information in new ways, we will keep innovating to make it easy for all taxpayers to access helpful information.”

Intuit, the online accounting solutions giant, has released TurboTax Refund Calculator for the iPad. This is rather beneficial for those last-minute RRSP contributors. Here, they can plug in a variety of numbers and observe the impact it will have on the taxes that should be paid and refunded. It’s nemesis, H&R Block also is a sought-after solution for tax preps.

Mint.com, which just launched “Get Out of Debt” feature to eliminate bad financial habits leading live a debt-free life, also has their own share of tax tools. They share helpful tips to keep sanity intact during as tax season heats up. Mint.com came up with a rundown of personal financial management with pieces from all over the web. The collection also supports Americans quest in revisiting how they spend and overspend.

Google has a very interesting way to celebrate Tax Day with the launch of Data Viz Challenge, a game aiming at visualizing data pertaining to where taxes are going. They initially created an interactive bubble version of this an API, but those who can make it more unique and powerful gets a shot at a $5,000 price and a shout-out in the googleblog.

For most of us, “taxes” is almost synonymous with worrying and stress.  And these solutions are in place to aid citizens in fulfilling their duty to the country, right? April 18th marks the end of tax filing and the onset of the hunt for evaders.  At least you can use technology to your advantage this year.  Here’s a fun infographic (courtesy of TurboTax) outlining your refund’s journey.


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