Filing Your Tax Return … On Your Phone?

Filing your tax return is always a laborious process, but there's an easier way –- via your smartphone. Brad Smith, president and CEO of financial technology company Intuit, told CNBC at the Web Summit conference in Dublin, this was a "huge opportunity" for the tax software company. "This next generation who's entering the work force doesn't think of doing anything unless it has a mobile device," Smith said. Intuit has developed Turbo Tax, an app that enables users to process their taxes on their smartphone by taking a picture of their employment form –- such as the W-2 document in the U.S. The company is also focusing on a move from desktop services to the cloud, which has pushed up expenses. In August the company, which has around 55 million customers around the world, reported a surprise loss for the fourth quarter, although revenue increased. Net loss for the three months to the end of July came in at $39 million –- down from a $16 million loss the year before. Intuit now expects a decline of between 3-5 percent in revenue for fiscal year 2015.

Take advantage of these tax deductions 4:16


--- Katrina Bishop, CNBC