Breaking NewsFinanceTech

Bots Counting Beans: H&R Block Launches AI Tax Filing Assistant

Tax preparation company H&R Block has unveiled a new AI tax filing assistant named “AI Tax Assist.” This AI chatbot is integrated into H&R Block’s paid DIY tax software versions, offering users detailed guidance on tax rules, possible exemptions, and other tax-related queries.

The Verge reports that H&R Block’s AI-powered assistant is designed to help taxpayers by answering their questions about different tax situations, including exemptions and deductions that are specific to various professions, such as gig workers. For instance, an Uber driver can ask, “What can I deduct as business expenses?” and the AI will generate a tailored list of permissible deductions.

AI Tax Assist’s can also direct users to human tax experts for more personalized advice, with future plans to support AI-powered personalized guidance. H&R Block emphasizes the importance of user trust, especially when integrating AI into their services. They ensure users will be aware when interacting with the AI feature and it will provide sample prompts to facilitate easier usage.

Chris Linderwell, Vice President of Consumer Tax Products at H&R Block, highlighted the tool’s aim to reduce users’ reliance on external sources like Google for tax filing inquiries. By keeping users within H&R Block’s ecosystem, AI Tax Assist not only enhances user experience but also promotes a deeper understanding of their tax situation.

Developed with technology from OpenAI and Microsoft, AI Tax Assist is trained exclusively on H&R Block’s comprehensive library of tax laws, augmented by input from the company’s accountants, lawyers, and tax professionals. This approach ensures that the AI provides accurate, reliable advice without relying on internet-sourced information.

While AI Tax Assist is not available in the free version of H&R Block’s app, the company assures that its inclusion will not increase the prices of its subscription tiers, which start at $35.


Related Articles

Back to top button