With Americans staring down the tax filing deadline, some may consider enlisting the help of an AI chatbot. American Institute of CPAs lead manager of tax practices and ethics April Walker joins Wealth! to caution Americans against using AI in full to complete their taxes.
Walker suggests that AI can be useful for tax education purposes: a chatbot can offer helpful tips when it comes to commonly missed tax deductions or how particular types of income should be taxed. "But tax is very complicated and nuanced and not black and white," Walker adds, pointing to AI’s tendency to occasionally provide incorrect answers.
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