Automatically file taxes with help of AI

Suggested by Kashif Ali over 3 years ago

Each year Americans spend over two billion hours and $30 billion preparing individual tax returns, and these filing costs are regressive. 64 and 73 million returns (42 to 48 percent of all returns) could be accurately pre-populated using only current-year information returns and the prior-year return.

We can automate taxes for 48% of the tax filers in a few months.

Source: https://www.nber.org/papers/w30008

Recent developments in AI, AGI, and LLMs are the inflection point to solve the tax automation problem