Taxation Law


Who Will Pay for the Future if Not the Robots?

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"So there's no sales tax revenue because there's no sales," says Joseph Henchman, vice president of state projects at the Tax Foundation. Cities and states get about 30 percent of their revenue from property taxes, 20 percent from sales tax, and another 20 from individual income taxes. "If revenues drop by a third"--the projected impact of automation--Henchman says, "that means services need to be cut back by a third, either through trying to be more focused or efficient with the services we do provide, or by actually having to pare back what government does." A robot tax isn't going to save jobs, but the idea is that it could help cushion the impact of mass automation by funding a universal basic income.



will-pay-future-not-robots

WIRED

"So there's no sales tax revenue because there's no sales," says Joseph Henchman, vice president of state projects at the Tax Foundation. Cities and states get about 30 percent of their revenue from property taxes, 20 percent from sales tax, and another 20 from individual income taxes. "If revenues drop by a third"--the projected impact of automation--Henchman says, "that means services need to be cut back by a third, either through trying to be more focused or efficient with the services we do provide, or by actually having to pare back what government does." A robot tax isn't going to save jobs, but the idea is that it could help cushion the impact of mass automation by funding a universal basic income.


Ikea is betting on artificial intelligence

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The Trump tax plan: The White House set out its big tax reform plan, which managed to fit on a single page with some bullet points. North Korea: Trump's desired course of action is to resolve the nuclear standoff diplomatically. Push the button: Perhaps the strangest news out of Trumpland this week is the big red button that POTUS keeps on his desk. Which also brings us to the biggest controversy of the week -- does Trump enjoy Coke or Diet Coke?


GM to hire 1,100 workers in California to bolster self-driving car program; gets $8 million tax break

Los Angeles Times

Electric-bus manufacturer Proterra Inc. was approved for a $7.5 million tax credit in exchange for hiring 432 people in Burlingame near San Francisco International Airport and in City of Industry. The Proterra tax credit was approved despite concerns raised by the United Steelworkers union, which said the company is likely falling short of job-creation commitments promised to the state of South Carolina in exchange for tax incentives. Tax breaks were also approved for several technology companies, including the online streaming service Hulu, which sought $4.3 million in exchange for adding 410 workers in San Francisco, Santa Monica and Novato. Renovate America Inc., which provides clean-energy and energy-efficiency financing, will get a $5.5 million tax credit to hire 542 people in San Diego County and San Francisco.


E-Gov: In the age of Artificial Intelligence, time ripe for India to leverage Big Data

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AI techniques can be applied in large-scale public initiatives ranging from crop insurance schemes to tax fraud detection to enhancing our security strategy. Coming to the Skill India initiative, India has entered into partnerships with public and private sector organisations both in India and abroad, some of which start at the school level to facilitate knowledge exchange. This could prove to be a potentially ripe area to apply adaptive learning solutions to tailor education to different levels of receptiveness and allow students to learn at their pace. In the area of Smart City development, AI can and will play an integral part in analysing huge volumes of data, which would be generated by smart city components and also by users.


IBM's Watson will help you file your taxes

Engadget

Tax experts can find deductions that you might otherwise miss, but they're only human -- they can only find so many potential savings, let alone paint a larger picture of your finances. IBM is partnering with H&R Block to make Watson a part of the tax filing process at locations across the US starting on February 6th. After you participate in an initial interview, the artificial intelligence will offer suggestions to Tax Pros (read: experts) looking for deductions, and illustrate the bigger picture for you on a dedicated client screen. Ideally, Watson's ability to understand context and intent will turn your statements into tangible data that leads to bigger tax breaks.


Need help with your taxes? IBM Watson is here to help

Mashable

Just like Watson is already revolutionizing other industries like healthcare and education, here H&R Block with Watson is learning to process incredible amounts of information, helping create tailored solutions for H&R Block's customers," David Kenny, IBM's senior vice president for IBM Watson and cloud platform, said in a video announcing the partnership. SEE ALSO: IBM's Watson supercomputer discovers 5 new genes linked to ALS Watson will read the 74,000 pages of federal tax code and process the thousands of yearly changes to tax law to help tax preparers get clients their best result.


How this chatbot powered by machine learning can help with your taxes

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In the coming years, there will be a "machine" that has access to a large volume of tax data, tax codes, tax litigation, and relevant facts for a business enterprise. Because of the complexity of the tax code, my team and I built a rule-based machine learning chatbot named AskMyUncleSam to answer tax and financial queries to make life easier for the 212 million American tax filers. Filing taxes shouldn't be a confusing and stress-inducing process, and we at AMUS aim to reduce the opacity of the tax code and allow easier tax filings for millions. Technology can't solve every part of what makes taxes so complex and painful.


Ayasdi Named to the 2017 AI 100 by CB Insights

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About Ayasdi Ayasdi helps companies around the world use artificial intelligence to automate business processes formerly thought of as exclusively in the domain of humans, to enable intelligent applications that augment and even surpass human capabilities and to make new discoveries in big data and high dimensional data. Developed by Stanford computational mathematicians, Ayasdi's unique approach to machine intelligence leverages breakthrough mathematics, highly-automated software and inexpensive, scalable computers to revolutionize the process of converting big data into business impact. We aggregate and analyze massive amounts of data and use machine learning, algorithms and data visualization to help corporations replace the three Gs (Google searches, gut instinct and guys with MBAs*) so they can answer massive strategic questions using probability not punditry. With backing from the National Science Foundation and venture capital investors, we mine terabytes of data and knowledge contained in patents, venture capital financings, MA transactions, hiring, startup and investor websites, news sentiment, social media chatter, and more.