tax season
How Robots and A.I. Are Revolutionizing the Tax Season
Tax season has arrived again and everyone is working crazy hours to fulfil their obligations. However, this season brings a refreshing and long-awaited wave of innovations that aim to put an end to the pain of repetitive manual data entry for good: artificial intelligence bots. Yes, most people will read this and think "It was about time, eh?", but for those who are a little bit more familiar with the tax environment it's fair to say that this can be a game-changer. A.I. can bring dramatic impacts to a wide range of industries, and its effects have already begun for a considerable number of small businesses, CPA practices, and bookkeeping practices worldwide; even the White House is a big supporter of the cause. So this is how it works: most commonly, A.I. is being brought to the tax scene in the form of automated data entry bots, which allow people to enter data from receipts and bills using their smartphone cameras.
IBM Watson Announcing Major Consumer-Facing Partnership
Wherever you fall along these lines, you want to make sure that your taxes are accurately being prepared to ensure that you experience no issues with the IRS. H&R Block has introduced a new partnership with IBM Watson to bring its customers a new and improved tax preparation experience. Watson is an artificial intelligence technology that continuously learns from the data fed into its system. As more customers' tax information is processed by Watson, it will apply the knowledge it has retained in order to give tax preparers the best advice for their customers. The technology is so in-depth because it was given a large amount of data about tax laws and codes, allowing it to gain deeper insight into the varied situations that affect an individual's tax return.
Flipboard on Flipboard
As we are in the beginning of tax season, millions of Americans are eager to learn what this tax season holds for them. For many Americans tax season is officially their Christmas -- a big refund is what they are anticipating. For others, they just want to break even so they do not owe any money to the IRS. Wherever you fall along these lines, you want to make sure that your taxes are accurately being prepared to ensure that you experience no issues with the IRS. H&R Block has introduced a new partnership with IBM Watson to bring its customers a new and improved tax preparation experience.