So far, tax firms have largely used AI as a supplementary tool to automate one-off tasks. That approach has real value: faster research, quicker document drafts, less manual data input and document indexing. But it still requires a human tax professional in the pilot seat.
A newer category of agentic-driven AI software removes that requirement. Some AI-native tax preparation platforms can execute the preparation stage of the 1040 workflow independently for simple returns.
For firms facing staffing shortages and margin pressure at once, the implications of being able to jump straight to review for a large bulk of returns are massive. Here’s why not all AI is created equal, and why that distinction can make all the difference.
To dig deeper, visit the original article on the Thomson Reuters blog.