H&R Block, Yodlee team to create tax prep app

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City of Industry, CA 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.

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. [Read the full article]

Labor: In voting to raise taxes to fund health benefits of public-sector union members, Oregonians have taken some of the shine off Scott Brown's victory in Massachusetts and set a potentially dangerous precedent.

Opposition to tax hikes was one of three positions that Sen.-elect Brown took that resonated with Bay State voters last week (the others being opposition to Congress' health care overhaul and a hard line in the war on terror). But there was no Scott Brown on Oregon's special ballot Tuesday.

Instead, there were Measures 66 and 67 -- an attempt to pry more dollars from the middle class, the wealthy and small businesses advanced by an aggressive axis of government employee unions.

Each passed by a 54%-46% margin, flying in the face of conventional wisdom that raising taxes is the last thing you do in the middle of a recession. [Read the full article]

Faced with an unexpectedly high unemployment rate, he talked at length about the need to spur job growth and help ease the financial strains on the middle class through tax credits, targeted spending and other measures.

But he made one thing very clear: He also wants to address the unsustainable growth rate in U.S. debt.

"[I]f we do not take meaningful steps to rein in our debt, it could damage our markets, increase the cost of borrowing, and jeopardize our recovery - all of which could have an even worse effect on our job growth and family incomes," the president said.

Indeed, the Congressional Budget Office reminded policymakers this week that the U.S. government's fiscal outlook is "daunting."

Here's why: The interest on the debt and unfunded promises to future retirees in Medicare and Social Security are on track to consume an ever-increasing share of the federal budget. [Read the full article]

In his State of the Union address Wednesday, President Obama said his administration will focus on accelerating hiring in the short run and, in the longer term, on fostering sustainable jobs that grow wages.

"Jobs must be our No. 1 focus in 2010, and that is why I am calling for a new jobs bill tonight," said Obama, which evoked applause from both sides of the political aisle. "People are out of work. They are hurting. They need our help. I want a jobs bill on my desk without delay. "

Senators Byron Dorgan, D-N.D., and Dick Durbin, D-Ill., are working on a proposal to be introduced Thursday. The package will target four areas: Small businesses, infrastructure, clean energy, and assistance to states to keep teachers, firefighters and other public employees on the job, according to a Democratic aide.

Meanwhile, Senators Charles Schumer, D-N.Y., and Orrin Hatch, R-Utah, unveiled their plans to boost hiring in an op-ed piece Wednesday. [Read the full article]

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