AI tax filing?

Since AI talk is all the rage, perhaps AI tax filing is a good idea.

We got many tax-filing software out there already, but they can be more user-friendly. Many people are not aware of certain expenses they can claim. Government changes policies or creates new ones from time to time according to the economic situation. That is normal. Most people might not up to date with all the changes. Even paying for a tax accountant doesn’t necessarily mean that they will do a good job. I heard some bad experiences people had with their tax filing vendors.

After a person put in their basic information such as age, family make up, and income tax slips can be retrieved from CRA website and entered automatically to the software, the AI is supposed to ask all the relevant questions to find out whether the person has certain expenses to claim or certain condition to declare. This way, it can ensure that people would not miss certain deductions or tax credits.

Also, this way, it can really simplify the experience for many people who tax affair is mostly quite simple. It can really improve the percentage of people filing tax return.

Currently, there are many community organizations use volunteers to help low-income individuals and families to file their tax returns. Some are overwhelmed by the heavy volume of requests. Hope an easy-to-use AI tax filing app can be available soon.

Published by Worthfy

Financial literacy and counselling

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