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NEW YORK (AP) – Tax preparation company H&R Block Inc. and personal finance management application developer Yodlee Inc. on Wednesday said they are teaming up to make it easier to use online data to prepare taxes.
The deal is aimed at creating an application that enables data from personal accounts to be pulled into tax forms provided by H&R Block, which will help people identify deductions they might otherwise miss.
The companies said the app should be ready in time for next tax season, but a pilot program will be available in April. When ready, consumers should be able to access the application through online banking.
Terms of the deal were not disclosed.
Yodlee creates the programs used on many bank Web sites for account management. It also powers personal finance Web site Mint.com.
H&R Block is the nation’s largest tax company, preparing more than 21 million returns each year between its retail offices and online service.
H&R Block shares closed up 28 cents, at $22.01.
(This version CORRECTS Corrects headline, body to say companies are developing application, not a new Web site.)