Technology General Discussion - Recent Threads

Why connected data matters for tax technology modernization

Neil Vicente — Mon, 07 Sep 2026 12:57:25 GMT

Most tax leaders don’t need convincing that their department should modernize. What’s harder to picture is what modernization actually looks like on an ordinary Tuesday — not in a vendor deck, but in the hour-by-hour reality of preparing a return, closing a provision, or answering an auditor’s question.

That gap between wanting to modernize and knowing what “modern” looks like in practice is showing up clearly in the data. According to the 2026 Corporate Tax Department Technology Report, satisfaction with tax technology fell to 34%, from 56% a year earlier. Nearly two-thirds of tax departments (64%) remain stuck in the chaotic or reactive stages of technological maturity, a number that has risen, not fallen. Tax teams aren’t short on ambition. They’re short on a concrete picture of the destination.

That destination isn’t a bigger tech stack. It’s connected tax data, in place of the disconnected handoffs most direct tax teams navigate today. The report calls this the frustration gap — and by its own numbers, it’s widening.

To dig deeper, visit the original article on the Thomson Reuters blog.

Republicans hesitant on AI taxes, says expert

Neil Vicente — Mon, 07 Sep 2026 12:54:52 GMT

Amid competitiveness concerns and fundamental questions about tax structure, one expert said congressional Republicans have been largely quiet about a new AI tax.

Democrats have forwarded a number of proposals to tax AI in the last several months — from ending tax incentives for data centers to a “token tax” to a tax on data center electricity usage. Senator Bernie Sanders (I-VT) has gone as far as calling for government acquisition of a 50% equity interest in AI companies and the creation of a sovereign wealth fund.

However, when it comes to AI tax proposals, PwC’s Rohit Kumar told Checkpoint he’s “not hearing anything” from the Republican side. And given President Donald Trump’s August 31 social media post, Kumar suspects congressional Republicans will “think twice about wandering onto the tax AI playing field.”

To dig deeper, visit the original article on the Thomson Reuters blog.

Beyond omnichannel: How AI is reshaping indirect tax compliance

Nageshwaran Gopal — Mon, 31 Aug 2026 20:05:10 GMT

How is AI transforming indirect tax compliance for retailers? Organizations are shifting from manual application-based workflows to AI-powered, outcome-driven processes that automate tax determination, exception resolution, and return preparation.

In this white paper, you will learn:

Why traditional compliance workflows are under strain as omnichannel complexity increases
How touchless compliance eliminates manual intervention across six stages of the compliance cycle
What Fiduciary-Grade AI™ means for defensible, auditable tax outputs
How retail tax teams can shift from reactive execution to strategic advisory roles

To dig deeper, visit the original article on the Thomson Reuters blog.

AI can handle your tax workflow, but can you trust it?

Nageshwaran Gopal — Mon, 31 Aug 2026 20:04:37 GMT

Where AI adds value in tax preparation, and where professional judgment still matters

Highlights

AI adoption among tax professionals nearly doubled, rising from 22% to 40% year over year.
AI could save professionals 240 hours annually, worth roughly $19,000 per person.
70% of accountants worry about AI data security, and 62% are concerned about AI errors.

To dig deeper, visit the original article on the Thomson Reuters blog.

What three years of data reveal about AI in corporate indirect tax

Nageshwaran Gopal — Mon, 31 Aug 2026 19:57:28 GMT

Highlights

65% of tax professionals now use GenAI tools, yet only 26% measure the resulting ROI.
Three years of data show adoption came first, strategy came next, and measurement remains the biggest obstacle.
Indirect tax faces higher stakes from shallow AI adoption due to its high transaction volume and tight deadlines.

To dig deeper, visit the original article on the Thomson Reuters blog.

AI-native tax preparation: Why agentic AI is changing who does the work

Neil Vicente — Mon, 24 Aug 2026 11:35:28 GMT

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.

AI errors reach boardrooms and investors, midyear report finds

Nageshwaran Gopal — Mon, 17 Aug 2026 13:48:14 GMT

Data quality remains the sticking point

That disconnect could prove costly as companies lean further into AI for financial reporting, sustainability disclosures and investor communications. Seventy-one percent of respondents said poor data quality had at least moderately hampered their use of AI in financial and sustainability reporting, with more than a quarter saying it had significantly blocked deployment in key workflows.

Workiva’s recommendation to corporate clients is blunt: shore up the underlying data and governance before layering AI on top of existing processes. The company urges standardized data definitions, a single source of truth, documented workflows and stronger “context layers” to guide AI systems — rather than treating the technology as a plug-in for legacy reporting.

To dig deeper, visit the original article on the Thomson Reuters blog.

A sole practitioner turns trusted AI into leverage across research, advisory, preparation, and delivery

Nageshwaran Gopal — Mon, 03 Aug 2026 18:36:36 GMT

Executive summary

Facing the dual pressure of a 450-return workload and rising client expectations for fast, defensible guidance, Joseph C. Greco, Jr., CPA, needed AI he could trust with professional work. The firm adopted a connected Thomson Reuters workflow — CoCounsel for research and document analysis, Ready to Advise for standardized planning and client-ready deliverables, UltraTax for preparation, and SafeSend for secure delivery and e-signature. The trust moment that unlocked adoption came when Greco ran a nuanced real estate professional scenario through three tools. The generic AI was "completely wrong," a competitor was "close," and "CoCounsel was on spot" with citations — proof he could stand behind. Together, these solutions now compress research hours into minutes, turn advisory insights into clear plans with implementation steps, and move finished returns to clients in just a few clicks — all while strengthening client relationships through transparent, plain-English outputs.

To dig deeper, visit the original article on the Thomson Reuters blog.

From applications to outcomes: How AI is reshaping indirect tax compliance

Nageshwaran Gopal — Mon, 03 Aug 2026 18:35:48 GMT

How is AI transforming indirect tax compliance? Organizations are shifting from manual, application-based workflows to AI-powered, outcome-driven processes that automate tax determination, e-invoicing, and reporting. In this white paper, you'll learn:

Why traditional indirect tax compliance workflows are under strain as e-invoicing mandates and real-time reporting requirements increase
How agentic AI orchestrates end-to-end tax compliance without manual handoffs
What the "human-in-the-loop" model means for tax professionals focused on validation and oversight
How centralized, federated, and hybrid tax team structures are adapting to automation
Which new roles are emerging at the intersection of tax expertise and AI technology

To dig deeper, visit the original article on the Thomson Reuters blog.

Why general AI tools fail at professional tax research

Nageshwaran Gopal — Mon, 20 Jul 2026 14:15:39 GMT

As tax laws evolve in real time, Fiduciary-Grade AI™ helps professionals find authoritative answers they can trust.

Highlights

General AI tools often rely on outdated information, making them unreliable when tax laws and IRS guidance change rapidly.
Without authoritative citations and source hierarchy, AI-generated tax answers can be difficult to verify and easy to misapply.
Fiduciary-Grade AI™ delivers current, expert-curated, and citable answers that help reduce research risk and improve confidence.

To dig deeper, visit the original article on the Thomson Reuters blog.

Banks are using AI to review loans, but humans still make the final loss call

Nageshwaran Gopal — Mon, 20 Jul 2026 14:15:08 GMT

Banks are beginning to use artificial intelligence to handle time-consuming parts of the loan-loss process, but they are not letting machines decide how much money to set aside for bad loans, according to accounting advisers who spoke with Thomson Reuters on July 9, 2026.

“It’s important to distinguish between AI assisting the process and AI actually estimating loan losses,” Gabe Nachand, a principal in Baker Tilly’s financial services practice, said.

Nachand said banks are using AI mainly for the routine legwork tied to a loan file — refreshing a borrower’s credit score, updating the value of a home or piece of commercial property used as collateral, checking whether that property is currently listed for sale, or matching terms within loan documents. What AI is not typically doing, he said, is deciding how large a bank’s allowance for credit losses should be for loans that might not get repaid — a figure required under an accounting rule known as CECL, or Current Expected Credit Losses under FASB ASC 326.

To dig deeper, visit the original article on the Thomson Reuters blog.

Building a tariff-resilient compliance program: AI, technology, and a practical 90-day roadmap for global manufacturers

Neil Vicente — Mon, 13 Jul 2026 11:15:08 GMT

The first two installments in this series established the terrain. Part 1 mapped the legal landscape: which tariff authorities the U.S. government still has available, which are contested, and which have been removed. Part 2 examined the compliance demands those authorities create — the data depth, real-time velocity, and temporal range that most organizations’ existing systems weren’t built to deliver.

This installment addresses the response. What role does AI genuinely play in trade compliance today? What does a modern compliance technology stack actually look like? And for a manufacturer ready to act, what does a practical 90-day improvement roadmap look like in practice?

To dig deeper, visit the original article on the Thomson Reuters blog.

AI in corporate tax: Key trends, use cases, and what’s next

Nageshwaran Gopal — Tue, 07 Jul 2026 12:52:57 GMT

Highlights

IRS Form 6765 Section G and GloBE Information Return create unprecedented compliance pressure for 2026.
Thomson Reuters ONESOURCE+ delivers touchless compliance through agentic AI and embedded CoCounsel Tax research.
Neo.Tax automates R&D credits with real-time data integration meeting new IRS contemporaneous documentation standards.

To dig deeper, visit the original article on the Thomson Reuters blog.

How AI Is transforming audit workflows

Nageshwaran Gopal — Tue, 07 Jul 2026 12:12:47 GMT

Explore AI-powered audit solutions

From routine to revolutionary
Discover how our audit AI solutions will automate tasks and shorten your to-do list, so you have more time to focus on high-value work

To dig deeper, visit the original article on the Thomson Reuters blog.

AI in corporate tax: Key trends, use cases, and what’s next

Neil Vicente — Mon, 29 Jun 2026 12:12:27 GMT

Discover how AI is transforming corporate direct tax workflows — with real-world examples from Thomson Reuters, Neo.Tax, and Orbitax.

Highlights

IRS Form 6765 Section G and GloBE Information Return create unprecedented compliance pressure for 2026.
Thomson Reuters ONESOURCE+ delivers touchless compliance through agentic AI and embedded CoCounsel Tax research.
Neo.Tax automates R&D credits with real-time data integration meeting new IRS contemporaneous documentation standards.

Discover how AI is transforming corporate direct tax workflows — with real-world examples from Thomson Reuters, Neo.Tax, and Orbitax.

To dig deeper, visit the original article on the Thomson Reuters blog.

Why AI Adoption Alone Doesn't Deliver Business Value

Nagent AI — Tue, 23 Jun 2026 07:34:55 GMT

Many organizations have invested heavily in AI tools, yet measurable business outcomes often fall short of expectations. While AI adoption continues to grow, the challenge appears to be less about access to technology and more about integrating AI into day-to-day workflows and decision-making processes.

In your experience, what are the biggest barriers to turning AI experimentation into operational value? Is the issue primarily related to training, governance, change management, workflow integration, or something else?

As AI capabilities continue to evolve, it would be interesting to hear how firms are approaching long-term AI strategies and ensuring that adoption translates into meaningful business impact.

AI in Professional Services: The Strategy Gap No One's Talking About

Neil Vicente — Mon, 22 Jun 2026 15:08:05 GMT

The tools are ready. The organizations aren't.

A new Thomson Reuters report reveals a striking paradox at the heart of professional services: AI adoption is near-universal, yet most firms are failing to turn that adoption into real value.

74% of professionals now use AI several times a week — yet 41% lack access to AI tools specifically designed for professional work, built on verified professional content.

That gap between usage and readiness is costing firms more than they realize.

Clients Are Already Walking

78% of corporate clients say receiving AI-enabled quality improvements from the firms they work with is very important or essential — yet just 6% say most or all of their providers actually deliver it. The result? 32% are reconsidering their relationships with firms they feel are falling behind, and among those reconsidering, one-third estimate more than $1 million in annual work is at risk.

The Real Problem Is Organizational, Not Technical

35% of professionals whose firm has a named AI strategy say that strategy is not visible in their day-to-day experience, and 17% say their organization has no strategic direction on AI at all.

The most common reasons strategies stall? The barriers are not primarily technical — all four are change management problems: tools not yet in place, people not trained, strategy not translated into operational priorities, and no shared understanding across the organization.

The Talent Risk Is Real

More than nine in ten professionals experience some degree of AI value gap, and among them, one in four is considering leaving their current organization within two years — at an estimated $232,000 per replacement.

Mid-career professionals are the most embedded AI users, the most influential in day-to-day operations, and the most mobile — almost three in ten would change jobs within two years if AI fails to deliver the value they expect.

Three Paths Forward

The report outlines three distinct futures firms can choose from:

AI to Elevate — human expertise at the center, with AI handling groundwork so professionals focus on judgment and relationships. This is the most popular path, chosen by 52% of professionals.
AI to Scale — AI primarily addresses a capacity question, increasing volume, response times, and consistency without proportional headcount growth.
AI to Reimagine — structural reinvention, where the question isn't how to make services faster or cheaper, but what AI makes possible that wasn't before.

The data is consistent on one point: the act of choosing deliberately and committing to that choice produces better outcomes than arriving at a path by default — with 66% of professionals in firms with a named AI strategy saying AI is meeting or exceeding expectations, versus just 22% where no strategy exists.

The Bottom Line

The AI race in professional services isn't about who has the best tools. It's about who can close the gap between strategy and the desk. Professionals can absorb imperfect strategies; what they cannot absorb is the gap between what is promised and what is delivered.

The firms that act now — deliberately, not by default — will define what professional services looks like next.

Read the report

Why technology and AI alone can’t drive your transition from tax compliance to advisory services

Neil Vicente — Mon, 15 Jun 2026 14:24:32 GMT

The accounting profession is at a crossroads. Your clients are asking for more strategic advisory services. You’ve invested in AI and automation. Yet most firms remain stuck delivering compliance-only work.

Here’s the uncomfortable truth: technology alone won’t transform your practice. It will make you faster at compliance work. But speed isn’t strategy, and efficiency isn’t transformation.

If you’re serious about making the transition from tax compliance to advisory services, you need more than powerful software. You need an integrated solution

To dig deeper, visit the original article on the Thomson Reuters blog.

Keeping up with AI developments in international trade

Nageshwaran Gopal — Mon, 08 Jun 2026 15:26:00 GMT

Highlights

How AI is being applied in international trade to manage compliance, tariffs, and regulatory complexity
Why AI is becoming essential for helping trade professionals surface insights, reduce risk, and support better decision-making
What organizations should focus on now to prepare for ongoing AI developments in global trade

To dig deeper, visit the original article on the Thomson Reuters blog.

How to develop an AI tax compliance strategy for evolving regulations

Neil Vicente — Tue, 02 Jun 2026 15:56:16 GMT

As regulatory bodies continue to sort out the tax implications of the One Big Beautiful Bill Act (OBBBA), keeping up with compliance has become part of the daily grind for tax and accounting firms. But what if technology could help?

According to the Thomson Reuters 2025 Future of Professionals Report, 79% of tax, audit, and accounting pros expect AI to have a transformational impact on their industry within the next five years. Yet only 14% of tax firms currently have a defined AI strategy in place. For your firm, that gap should spell enormous opportunity.

Here’s a look at how a carefully-planned AI tax compliance strategy powered by fiduciary-grade technology can help your firm stay efficient and profitable in a chaotic landscape.

To dig deeper, visit the original article on the Thomson Reuters blog.

Direct tax leaders are working to close the frustration gap: Six findings from the 2026 Tax Technology Report

Neil Vicente — Tue, 02 Jun 2026 15:52:01 GMT

New findings from the 2026 Corporate Tax Department Technology Report reveal a growing divide between tax functions accelerating into strategic value — and those falling behind. See where you stand, what's driving the gap, and how ONESOURCE direct tax solutions are helping leaders cross to the right side of it.

If you lead a corporate direct tax function, you already know the rhythm: the close compresses, the provision deadline lands harder than it should, a state notice arrives the morning of an audit response, and the data you need is scattered across a parking lot of spreadsheets. You also know that automation using tax technology is supposed to solve this.

To dig deeper, visit the original article on the Thomson Reuters blog.

From manual to AI-powered: The evolution of trade classification

Nageshwaran Gopal — Mon, 25 May 2026 13:51:22 GMT

As global supply chains become increasingly complex and tariff landscapes shift unpredictably, the traditional approach to Harmonized System (HS) product classification is breaking down. IDC research reveals that companies using manual classification processes spend 60% more time on compliance activities. Here’s how we got here — and where the industry is headed.

Era 1: Physical inspection and printed tariff schedules (Pre-1988)

Era 2: The harmonized system changes everything (1988)

Era 3: Digitization and the electronic filing era (1990s)

Era 4: Rule-based expert systems arrive (Late 1990s–Early 2000s)

Era 5: Machine learning enters the picture (2010s)

Era 6: The AI era — Classification as a strategic function (2018–Present)

To dig deeper, visit the original article on the Thomson Reuters blog.

Data Privacy in the Age of AI: More Than Just a Tax Issue

Neil Vicente — Mon, 18 May 2026 12:36:09 GMT

Tax practitioners face an expanding set of data security regulations, and the rapid adoption of artificial intelligence is adding layers of legal and ethical complexity that many firms are unprepared for, according to experts speaking at a recent American Bar Association (ABA) panel and with Checkpoint.

Practitioners must comply with federal, state, and even international laws, all while defending against increasingly sophisticated cyber threats that treat professional firms as attractive targets. The failure to adequately protect client information can lead to steep regulatory fines, expensive litigation, and irreparable reputational harm.

To dig deeper, visit the original article on the Thomson Reuters blog.

The strategic trade leader’s technology roadmap: Converting boardroom influence into operational excellence

Neil Vicente — Mon, 18 May 2026 12:31:41 GMT

You’ve earned your seat at the executive table — now here’s how to leverage that influence to build the technology infrastructure that sustains your strategic impact as a global trade leader.

The numbers tell a remarkable story of transformation. According to the Thomson Reuters Institute 2026 State of Global Trade Report, 43% of trade professionals now have enhanced influence over procurement decisions, while 37% report more frequent involvement in executive decision-making. This represents an unprecedented elevation of trade departments from cost centers to strategic business partners.

But here’s the reality: Your newfound boardroom influence is just the beginning. The real test lies in translating that strategic positioning into technology investments that deliver measurable operational excellence and sustain your department’s elevated status. With 76% of trade professionals believing U.S. tariff volatility represents a permanent approach rather than short-term policy, the window for building resilient technology infrastructure has never been more critical.

To dig deeper, visit the original article on the Thomson Reuters blog.

Thomson Reuters executives take on questions about AI liability for tax professionals: A Reddit AMA recap

Nageshwaran Gopal — Mon, 11 May 2026 16:41:31 GMT

What happens when two of the most senior AI leaders at one of the world's largest professional services companies open the floor to the internet? You get 60 minutes of sharp, unfiltered questions, and some surprisingly candid answers.

Highlights

Thomson Reuters AI leaders discuss trust, liability, and accuracy in AI for tax professionals.
The AMA reveals Thomson Reuters' focus on fiduciary-grade AI and human accountability.
Thomson Reuters emphasizes domain depth and proprietary models for professional AI solutions.

To dig deeper, visit the original article on the Thomson Reuters blog.