There s a reason tax-prep tools are turning those tax filing experiences into positive ones.

Transcription

1 Ask anyone to tell you about an experience they had with taxes and the IRS. There s a reason tax-prep tools are turning those tax filing experiences into positive ones.

2 THE CHALLENGE How can the IRS leverage its incredible data collection to make taxpayer data helpful, and create a better user experience for people to make informed financial decisions BETWEEN their tax filings.

3 TAXPAYERS NEED A SERVICE THAT IS Actionable To be helpful, the service must offer dynamic actions a person can take to accomplish goals in addition to analyzing and browsing their data. Comprehensible Prioritized and organized data needs to provide context that is clear to understand. Humble This service is never intended to be used day-to-day. It should be a helpful tool that can be easily learned and boasts a recognizable interface for a wide audience Accessible Make the most important tools and notifications accessible to those who might not have access to internet services, or trouble connecting.

4 START: Taxpayers can signup from a redesigned IRS Homepage

5 INTRODUCING:

6 DASHBOARD (HOME) David Salinas You MyService age: Search for Documents, Definitions, etc FAQs Sign Out 3 05 Tax Return Cards ly snapshots provide simple Profile Sidebar You and your family are constant variables that don t often change. Update you family s information that can be used to get started on next year s taxes. This includes automatically calculating if you and/ or your dependents qualify for credits and deductions. SPOUSE Emily Salinas Married in 993 age: 49 DEPENDENTS 99 Buckridge Cove Rd. Austin, TX 7868 dsalinas@austinschools.edu (703) Get Started on 07 File My Taxes Total Payments $4,60.00 $0.00 OWED Payment Recieved on May 4, 05 Total Income $7,604.3 Total Payments $, Total Deductions $8,0.34 insights to compare data year-to-year before jumping into individual years. Clicking the card takes users into the Individual Return View. Tax Return Card (Back) Clicking shows a few more quick actions a user can take. Bella Salinas age: 0 SOME THINGS YOU CAN DO Individual-based Notifications Profile information such as ages of children can ping automatic notifications that can be used to trigger reminders and calls to action. Connor Salinas myra TAXPAYER TOOLS Credits & Deductions Checker Mortgage Loan Marketplace $3,0.80 Total Payments $4,60.00 $ OWED Total Payments $4,60.00 $, Total Payments $4,60.00 Print/Download Tax Return Amend (Change) Return Download all Forms and Worksheets Contribute to myra Where s My Refund? Less Is Dominic ready for college? Get help paying for it. Where s my Refund? Compare s Start a New FAFSA $70.30 OWED $,34.94

7 TAX RETURN INDIVIDUAL YEAR VIEW David Salinas You MyService age: 50 Back to Home Tax Return Ending December 3, 06 Search for Documents, Definitions, etc FAQs Sign Out 3 SPOUSE 99 Buckridge Cove Rd. Austin, TX 7868 dsalinas@austinschools.edu (703) Where s My Refund? Contribute to myra Amend (change) Return TOTAL INCOME $57,73.00 TYPE ORIG. VALUE COMPUTED VALUE SHEETS & FORMS COMPARE Wages, Salaries, Tips, etc $50, Important Actions Front-and-center are actions most important to users. Emily Salinas Married in 993 age: 49 DEPENDENTS PAYMENTS $8,90.00 Earned Income Other Income $, $6,4.00 Schedule EIC Organize and sort data Data fields can be sorted. Sorting by Bella Salinas Connor Salinas age: 0 DEDUCTIONS $4,90.00 CREDITS $4,60.00 EMPTY OR Taxable Interest Income Other Gains Or Losses Capital Gain Or Loss Business Income Or Loss Schedule B Form 4797 Schedule D Schedule C descending value is shown here. This is useful for separating out empty fields Sibling Service Quicklinks TAXPAYER TOOLS Alimony Received Links to services that can be combined with IRS MyService using your profile information. myra Credits & Deductions Checker Mortgage Loan Marketplace Where s my Refund? Total Social Security Benefits Qualified Dividends Compare s Ordinary Dividend Income Schedule B Tax-Exempt Interest Unemployment Compensation

8 MyService Search for Documents, Definitions, etc FAQs Sign Out 3 COMPARE Compare to other years Each field is accompanied by a snapshot histogram illustrating the simple trend which can be expanded David Salinas You age: 50 Back to Home Tax Return Ending December 3, 06 to view details and explore the data. 99 Buckridge Cove Rd. Austin, TX 7868 dsalinas@austinschools.edu Where s My Refund? Contribute to myra Amend (change) Return (703) MyService Search for Documents, Definitions, etc FAQs Sign Out 3 SPOUSE Emily Salinas Married in 993 age: 49 DEPENDENTS Bella Salinas Connor Salinas myra TAXPAYER TOOLS Credits & Deductions Checker Mortgage Loan Marketplace Where s my Refund? Compare s age: 0 TOTAL INCOME $57,73.00 PAYMENTS $8,90.00 DEDUCTIONS $4,90.00 CREDITS $4,60.00 TYPE ORIG. VALUE COMPUTED VALUE SHEETS & FORMS COMPARE Wages, Salaries, Tips, etc $50, David Salinas You Earned Income Download PDF 99 Buckridge Cove Rd. Austin, TX 7868 Schedule EIC -- Earned Income Credit dsalinas@austinschools.edu (703) Back to Home The earned income credit (EIC) is a tax credit for certain people who work and have earned income under $53,67. A tax credit usually means more money in your pocket. It reduces the amount of tax you owe. The EIC may also TOTAL give INCOME you a refund. SPOUSE $57,73.00 QUALIFIED DEPENDENTS CHILD CHILD CHILD 3 Emily Salinas NAME Bella Salinas Married in 993 age: 49 Connor Salinas PAYMENTS SSN $8,90.00 YEAR OF BIRTH DEPENDENTS STUDENT/DISABLED Student RELATIONSHIP Daughter Son Son DEDUCTIONS Bella Salinas age: 0 $4,90.00 Other Income EMPTY OR Taxable Interest Income $, Connor Salinas age: 50 $6,4.00 Schedule EIC Schedule B CREDITS $4,60.00 Tax Return Ending December 3, 06 Where s My Refund? Wages, Salaries, Tips, etc $50, COMPARE YEARS Contribute to myra Amend (change) Return TYPE ORIG. VALUE COMPUTED VALUE SHEETS & FORMS COMPARE Wages, Salaries, Tips, etc. 5% Tax Rate $74,90 Inflation from 00 5% Tax Rate $8,45 $76, W () W () $49,00.00 $7,73.48 Down 8% from 05 CLOSE Up 35% from Other Gains Or Losses Form 4797 Unemployment Compensation TAXPAYER TOOLS Earned Income $6,4.00 Schedule EIC Schedule EIC Supporting documents If a data field is accompanied with a form or worksheet, view an itemized myra Credits & Deductions Checker Mortgage Loan Marketplace Where s my Refund? Compare s Other Income EMPTY OR Taxable Interest Income Other Gains Or Losses $, Schedule B Form 4797 breakdown by clicking the link. Capital Gain Or Loss Unemployment Compensation Schedule D

9 FUNCTIONALITY DETAILS age: 50 age: 49 age: 0 Back to Home TYPE ORIG. VALUE TOTAL INCOME Specify the amount you wish to contribute from your 06 refund. Wages, Salaries, Tips, etc $50, $57,73.00 PAYMENTS $8,90.00 DEDUCTIONS $4,90.00 CREDITS $4,60.00 Tax Return Ending December 3, 06 Contribute to myra myra Contribution Earned Income $ Other Income EMPTY OR Taxable Interest Income Direct Deposit $6,0.00 Other Gains Or Losses Capital Gain Or Loss Where s My Refund? CLOSE Contribute to myra $, COMPUTED VALUE $6,4.00 ding December 3, 06 S Where s My reduction Refund? of taxes Contribute owed. That to myra is actually a Amend tax credit, (change) which Return does direc reduce the amount of taxes owed instead of simply reducing e: 49 your taxa income. Itemized Deduction ages, Salaries, Tips, etc $50, arned Income Search for Documents, Definitions, etc TOP RESULT PE ORIG. VALUE COMPUTED VALUE SHEETS & FORMS COMPA FAQs What Are Tax Deductions? Standardized Deduction $6,4.00 Schedule EIC Sign Out e: 50 A tax deduction lowers your taxable income, which therefore lowers tax liability. Some people mistakenly think a tax deduction is a direct ge: 0 ge: 7 Get Started on CLOSE Start a New Total FAFSA Payments $4,60.00 File My Taxes Using your profile and tax information, we Total will Credits automatically begin a $7, new FAFSA application fill in as many fields as we can for: $3,0.80 When is Dominic attending college? $ Between July, 06 and June 30, 07? Between July, 05 and June 30, 06? OWED Pay Total In Total P Total D Total C $ Business Income Or Loss Submit Cancel Alimony Received her Income TY OR $, Total Payments Submit $4,60.00 Cancel Total Payments $4,60.00 Total In Total P Total D Total C Total Social Security Benefits xable Interest Income Schedule B Qualified Dividends her Gains Or Losses Form 4797 Ordinary Dividend Income pital Gain Or Loss Schedule D Tie-In with myra Profile information allows users to quickly apply or sign up for services like myra that can automatically deposit a portion of a refund into their IRA. Smart Search A search tool that is in-tune with defining complex tax terminology in simple conversational terms. Tie-In with FAFSA Applying for FAFSA for you or your dependents is as easy as selecting the person attending school and the year which to apply for. Profile information and tax information will be fed into the application giving you a head-start.

10 MOBILE ACCESSIBILITY Mobile devices and MyService Notifications are where our four goals converge into one use. Notifications are actionable with clear steps leading user toward their goals. They are comprehensible in that they try to maximize your financial benefits in simple terms. It remains humble, only notifying you when deadlines approach or for important tips. Most importantly, we notify the people who need the information the most 9% of households with a family income of less than $5,000 access online services solely through mobile devices according to data collected by U.S. Census Bureau s Computer and Internet Use Supplement in 05

11 Ask anyone to tell you about an experience they had with taxes and the IRS now Thank You