StackHack 3.0

[Problem statement]

Develop a full stack application to promote financial literacy. Inputs can be bank statements across the year, tax-saving investments, and so on. Output field could return the tax returns, if any, or payments that have to be made.

Why this could be useful

Tax filing, while federally mandated to be a free service in the US, is often a paid service. Intuit's TurboTax is notorious for deceiving tax filers by intentionally blocking their free app and pushing people towards purchasing the paid service. However, there are government websites that give people the ability to file for free, but they lack advanced features. The app should ideally allow people to see what action must be taken (how much more investment can be made, how much cash will be taken, etc.), and also direct them to a list of free tax filing websites.

[Minimum requirement] ​(Entry level)

— Implement a backend service in .NET/Java/C#/NodeJS/Python with user authentication. Any tax filing updates must be saved so that the user can continue from where he left off.

— Implement a frontend in ReactJS or Angular JS or Vue or HTML, CSS. The user can add tax filing details from W2-forms, 1099 forms, etc. The app should then calculate the taxable income on gross income using standard deduction based on filing status and other tax deductions (eg: tax paid by employer). Determine whether the user has to pay tax or will receive a refund.

— Add a list of websites where tax filing can be done for free along with a brief description highlighting the advantages and disadvantages over others in the list.

— Submit​ Source code, Screenshots & detailed deployment instructions.

[Plus point] ​(Intermediate)

— User should be able to add tax filing information for itemized deductions from sources like property taxes and mortgage interest, donations to charity, state and local taxes paid, educational expenses, unreimbursed medical bills, and last year’s federal and state tax returns.

— Tell the user which method, standard, or itemized deductions will be better. Also, suggest what investments the user could make in order to get greater benefit.

— Every save made by the user should be cataloged so that the user can go back in case of any error in filling. This should be viewable on the frontend in the history section.

[Extra] ​(Advanced)

— Deploy your full stack app on any cloud platform or service. Eg. Heroku or AWS Elastic Beanstalk or Microsoft Azure or any free alternative or any other way. (This deployment link must be active for at least 2 weeks from the Submission date.)

— Provide the Deployment URL along with Source Code in a .txt file

— IMPORTANT: ​Archive source, screenshots, and documentation in a ZIP file and upload it.

[Tax filing data]

https://www.bankrate.com/taxes/tax-brackets/ - 2021 tax brackets
https://www.nerdwallet.com/article/taxes/standard-deduction - 2021 standard deduction
https://www.efile.com/itemized-tax-deductions-schedule-a/ - 2021 itemized deductions

— For icons and subtle texture:

­ http://glyphsearch.com/

http://subtlepatterns.com/thumbnail­view/

­ http://codebeautify.org/jsonviewer

­ http://www.flaticon.com/categories