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Key Takeaways According to tax experts who spoke with Bloomberg, chatbots keep making mistakes with tax returns.
They give misinformed advice and are prone to misreading digits on tax documents.
A Loyola University Chicago study found that chatbots answered a simple tax question incorrectly two-thirds of the time.
A new survey by Adobe shows that 26% of U.S. workers plan to use AI to help file their taxes this year, up from 11% last year. Over half of Americans surveyed reported feeling stressed about filing their taxes.
As more workers turn to ChatGPT and Claude to help with tax season and alleviate stress, it’s important to note the limitations of AI chatbots. According to tax experts who spoke with Bloomberg this week, AI bots keep making mistakes. They give misinformed advice, based on outdated rules, and are prone to errors when reading digits off of tax documents.
“Tax is incredibly nuanced,” April Walker, a senior manager at the American Institute of Certified Public Accountants, told the outlet.
How people are using AI for taxes
One AI consultant, Martijn Lancee, explained to Bloomberg how he used Claude to file his taxes. He downloaded his tax documents, containing information on business expenses, bank statements and bills, as PDFs on his computer and asked Claude to use the information to create a spreadsheet with different tabs. He then checked the spreadsheet and sent it to his accountant.
Lancee didn’t tell his accountant that AI helped him out this year. “I’m sure he noticed,” he told the outlet, “because the output was a lot better than last year.”
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