Smart money! Nearly half of Americans trust AI to do their taxes over a trained human
But in bad news for certified public accountants (CPAs), a new survey has revealed that nearly half of Americans now trust Artificial Intelligence more than tax professionals.
The research, conducted by accounting software company Invoice Home, surveyed 2,000 U.S. adults and found that almost 43 percent of respondents say they would trust artificial intelligence for help over a real person who is a tax professional.
They don't trust themselves either: the survey found only two in five Americans are confident about their tax filing ability.
But as tax-filing season kicks into full swing for Americans, the Internal Revenue Service (IRS) has issued guidance explaining how easy it is for people to file their returns without the need for AI.
The first thing to do is check is whether it's even necessary for you to file a tax return in the first place.
Regardless, the IRS states that it's worth doing it in case you're eligible for money back. And by following their step-by-step guide, Americans can supposedly handle their taxes with ease.
Not that people are rushing to file. Petr Marek, CEO and co-founder of Invoice Home, believes that the digitization of filing taxes is indicative of how social media and the addictive scrolling climate had impacted people's behaviors – putting them off important but dull tasks such as filing taxes.
The tax season itself kicked off on January 27 and the IRS is anticipating over 140 million tax returns to be filed before the April 15 federal deadline is up, meaning Americans have just around two and a half months to get their act together.
However, people will need to stay vigilant against scammers and schemes, and should use a trusted tax professional rather than opting for more lax methods, says the IRS.
If taxpayers are organized and wish to get ahead, then almost everyone, can 'file electronically for free by using IRS Free File' on the IRS.gov site.
The IRS issues guidance on how to choose and vet tax professionals ahead of the season – something they insist is crucial to avoiding fraudsters.
Often, starting with a professional that's affiliated with a recognized national tax association, is a good place to start.
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Spectator
16 hours ago
- Spectator
Britain needs to embrace crypto with its own Genius Act
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The Genius Act is a recognition of the massively-expanding crypto market – worth $5.7 billion globally last year – and an effort rightfully to bring it inside the regulatory tent for the first time, rather than to leave it at the mercy of private operators. It introduces safeguards which might prevent a future scandal along the lines of the discredited scheme operated by the now-jailed Sam Bankman-Fried. It introduces supervision to ensure that those trading stable coins retain adequate liquidity, and introduces a proper framework for dealing the currencies. Many people remain deeply suspicious about cryptocurrencies and will balk at the idea of governments having anything to do with them. Yet they are not going to go away. There is a generational divide in attitudes towards cryptocurrencies. 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Daily Record
2 days ago
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Andrew Cavenagh pushed the button on Rangers takeover after undercover spying mission on the Copland Road
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The Herald Scotland
2 days ago
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