TurboTax SnapTax prepares simple tax returns from a photo

Intuit has released TurboTax SnapTax, a new tax preparation app for the iPhone that allows U.S. and Canadian users to prepare simple tax returns by snapping a picture of their W-2 or T4, answering some basic questions and then reviewing and securely filing their return electronically. Available in separate country-specific versions, users can download the free SnapTax app to prepare their returns and pay via in-app purchase when filing; U.S. federal and state tax returns are $20 each, Canadian tax returns are $10 each. TurboTax SnapTax (U.S.) is for U.S. taxpayers who do not have children or dependents, do not own a home or real estate and have income of less than $100,000 that comes from only a W-2, interest or unemployment. TurboTax SnapTax 2011 (CDN) is for Canadians under the age of 65 who have no children or dependents, only a T4 slip, no RRSP contributions or charitable donations and reside in Alberta, BC, Manitoba, New Brunswick, Newfoundland, Nova Scotia, Ontario, P.E.I. or Saskatchewan. Both apps require a camera-equipped device with iOS 4.1 or later.