
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.

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Spectator
16 hours ago
- Spectator
Britain needs to embrace crypto with its own Genius Act
In proposing to sell the government's £5 billion hoard of Bitcoin – accumulated from confiscating the proceeds of crime – Rachel Reeves has earned some keen supporters. But the Chancellor should resist the temptation. It wouldn't be an error quite on the scale of Gordon Brown's sale of half of Britain's gold reserves in 1999 – that occurred right at the bottom of a bear market in gold, while Bitcoin in recent weeks has been trading at record highs. Nevertheless, Reeves would be missing out on the opportunity to build a Strategic Crypto Reserve which could turn out to be many times more valuable in the future. By backing cryptocurrencies rather than disposing of them, she could help the City of London capture an important market and recover some of its long-lost pre-eminence in financial transactions. While Reeves is contemplating cashing in her Bitcoin, the US is going in a very different direction. This month Congress established the GENIUS Act (Guiding and Establishing National Innovation for US Stable coins), which will regulate and encourage the use of 'stable coins' – cryptocurrencies backed by liquid assets such as dollars or short-dated Treasuries. The act will address many concerns about criminals' use of cryptocurrencies by incorporating strong consumer and anti-money laundering provisions. It will mandate the reporting of any suspicious activity involving cryptocurrencies, and ensure that they are backed by low-risk investments such as the dollar, or government bonds. There is an expectation, too, that President Trump will sign an executive order to allow the pension plans of millions of Americans to hold cryptocurrencies. The US approach towards cryptocurrencies is both liberating and reassuring for consumers. 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. While many older people continue to see them as a scam, many younger people have a similar attitude towards fiat currencies – paper money issued by governments and central banks which is not backed by gold or any other valuable commodity. It is time to recognise that fiat currencies are not the only ones that can be used in commercial transactions, and there is a good reason to explore alternatives. Blockchain, the technology behind cryptocurrencies, is increasing the speed at which transactions can take place. As for the argument that Bitcoin is not a proper currency because of the volatility in price, this needs to be absorbed as a warning to investors. It should not be used as a reason to prevent holding it, say, in a pension fund. Many corporations, too, once had reservations about cryptocurrencies yet have since been converted. Those who decline to be involved face losing out. Look at analytics company MicroStrategy, whose shares have increased fourfold over the past year as it has become the largest corporate holder of Bitcoin. The choice for our own government lies between taking action to incorporate cryptocurrencies into mainstream finance – or to watch as the US and others take the initiative. We need to be part of cryptocurrency regulation just as we were part of the post World War II Bretton Woods agreement, which established a regime for creating exchange rate stability, and which also established the International Monetary Fund (IMF) and the dollar peg. Stable coins, in fact, are becoming a new dollar peg. One of the consequences of the GENIUS Act, if it is not followed by a similar move here, will be to boost the value of the dollar. In her Mansion House speech, Rachel Reeves rightfully blamed excessive regulation for stifling growth. Yet as well as restricting and encumbering, well-designed regulations can free up markets and encourage growth. Reeves should be looking into a UK equivalent of the GENIUS Act. But in the meantime she should signal her intentions towards cryptocurrencies by retaining the government's £5.4 billion of Bitcoin and have it managed by a City firm. If Reeves will not do this, it is very fertile ground for the Conservatives. Kemi Badenoch will be watching the GENIUS Act with great interest. Fail to embrace cryptocurrency now, and Britain will once again have missed out on the chance to take a lead in an emerging industry. It is critical that the City of London should not lag behind major structural changes in the world or finance. Creating a proper platform in London for trading cryptocurrencies could be the beginning of the City's revival.


Daily Record
2 days ago
- Daily Record
Andrew Cavenagh pushed the button on Rangers takeover after undercover spying mission on the Copland Road
It was after this spying mission that Cavenagh opened the talks which would lead to his successful takeover in May of this year Andrew Cavenagh decided to push the button on his multi-million pound buy out of Rangers after going deep undercover to mingle with match day punters in the Copland Road stand. The health insurance tycoon made the secret trip to Glasgow on November 23 last year, battling through a snow storm to buy a ticket for a 1-1 draw with Dundee United. And it was after this spying mission that the American businessman opened the talks which would lead to his successful takeover in May of this year, along with his backers from the San Francisco 49ers The story of Cavenagh 's first ever trip to Ibrox has been revealed by Paul Murray in part of an in depth exclusive interview with our groundbreaking Hotline Live show, which is available to view online. And Murray, who helped Cavenagh and his consortium pull the deal together from the inside, has told how he knew the Americans were destined to take control from the moment the main man turned down a VIP seat in the directors' box to sit among the fans instead. Murray revealed: 'I met Andrew for the first time on a Zoom call in October last year, so nine months ago. We had a bit of a chat - nice guy - and he was then coming to London a week later. 'So I flew down to London and had lunch with him in central London. We had a really good chat. 'He didn't actually mention the 49ers at that time but he was actually with a guy from Leeds so I kind of figured out that there was something else maybe going on. 'We had a really good chat and my first impressions were, 'Really nice guy, very easy to talk to,'. 'As we've been discussing, over the last 20 years I've met a lot of people who want to invest in Rangers and who come forward - I think we all know some of the people we've just been mentioning! 'Andrew was different. You just got a sense immediately this guy is, first of all, he's a very successful businessman in his own right. A very serious guy but also a nice guy and also engaged. 'I talked him through the history of the club, the last 15 years and some of the things that had happened. You could tell he was really engaged. He obviously knew a lot of the things we were talking about. 'As it happened, because the guy was there from Leeds, I did take the opportunity of mentioning the Battle of Britain from 30 years ago which they were quite amused by. 'I said, 'That shows you where Rangers were 30 years ago. Before the English Premier League came into existence, we were, if not the biggest club in Britain, certainly one of the biggest clubs in Britain,'. So they were actually quite interested in that. 'I think the two things which really struck me about Andrew that day were, first of all he was really engaged and obviously really interested in what I was saying but also we were playing a game against Hearts at Ibrox a couple of days later on the Sunday. 'He actually said to me, 'I think I'll just fly up to Ibrox and go to the game,'. 'I asked if he wanted me to try to speak with someone and he said, 'No, I'll just get a ticket and I'll just go,'. 'As it turned out, for various reasons he wasn't able to go as he had some family stuff on but he then contacted me about a week later and said he wanted to go to the Dundee United game, which was in the middle of November. 'Again, I asked if he wanted me to help and he said, 'No, I'll just go and get a ticket - a normal ticket for any area of the ground,'. I think he actually went into the Copland Stand. 'But I thought that was quite interesting. A guy with that wealth and he just thought, 'I'm going to buy a ticket,'. 'He flew up to Glasgow, bought a ticket on his own. He went with a couple of other guys and you might remember it was a really bizarre game because it was meant to be a three o'clock kick-off on the Saturday and it was really bad weather. 'It was the middle of November but there were snow drifts and crazy weather to the point that Dundee United couldn't get down the A9. 'He actually contacted me to say, 'When does the game start?'. 'I said, 'I've just looked and apparently it's been delayed until four o'clock!'. 'So it was a really weird day and Andrew was basically walking about the stadium, looking at the stands and nobody knew who this guy was. 'I thought it was actually really interesting that a guy like that would take the time - because normally these guys want to go to the directors box as VIPs - but this guy was prepared to put on his work clothes if you like and just go and look at it. 'The other thing that happened that day was there were quite a lot of fan protests as well as having the snow drifts to contend with. But it obviously didn't put him off.' Now, a decade after helping Dave King take control of Ibrox in a boardroom purge, Murray believes his club has been passed into the best possible hands. He said: 'There are no guarantees. But I'm hugely excited. 'I spent a good bit of time with Andrew in the early days - I don't know Paraag just as well but we did have a couple of meetings - and I think these guys are going to be great for the club. 'I think, in a funny kind of way, the fact that they are not Rangers fans is a good thing because we've had Rangers fans on the board for a long time and it is difficult. 'It's hard to convey when you are a fan but you are also on the board as a custodian, you feel the weight of expectation on your shoulders. 'In fact, my very last game on the board of directors was just before Steven Gerrard came, when we lost 5-0 at Celtic Park and Celtic won the league. 'I remember leaving that day and I was actually finished. I just had to resign because I was emotionally spent. You sit there as a fan and as a director and it's hard to take. 'These guys are clearly going to be invested in the club from an emotional point of view but they are a bit more detached. And that gives them more objectivity which is a good thing. 'I don't know Paraag as well as Andrew but I think they are quite a complimentary duo and it's maybe this east coast west coast thing. Andrew is obviously from Philadelphia and I think Paraag is from California. 'So they have slightly different styles and backgrounds but I think they are quite complementary.'


The Herald Scotland
2 days ago
- The Herald Scotland
Behind the rise of Cowpeople at Glasgow's Barras Market
The Herald is profiling the best of The Barras Market in Glasgow's East End for our new series, 'The Barras Reborn.' Here is our conversation with the woman behind the American and queer-owned cowboy shop taking The Barras by storm. De Biasse, who is from Morris County, New Jersey, moved to Glasgow in 2016, at a time when the United States 'was undergoing a big political shift,' in her words. De Biasse says it took some time to find her place in Scotland. 'I didn't feel like I took all my life with me,' she says. 'There was a gap after Covid and I was remote working. It was time to make a big change.' De Biasse moved to Glasgow in 2016, and began collecting boots soon after. (Image: Gordon Terris) As a way to cope with her new environment, De Biasse began collecting cowboy apparel with religious fervour. 'I began to collect cowboy stuff because I missed home. I met so many amazing people, and my collection got larger and larger. 'I remember thinking that I wasn't wearing all of it, so I should try and sell them or give them away,' she recalls. 'So I rented a table at The Barras. It was supposed to just be for a weekend, but the response was immediate. I sold out of everything I had by the end of the first day. 'At first, I thought the novelty wouldn't be sustainable, but it just kept going. We have a team of six now and are launching a new website to allow us to be able to ship apparel across the UK and EU. 'It's been a really fast and exciting period of growth. The Barras is quite an interesting place to run a business. It's been a trial by fire,' she jokes. Cowpeople has taken off on social media, boasting 14.4k followers on Instagram and partnering with beloved soft drink Irn-Bru in a recent ad campaign. For De Biasse, who identifies as a member of the queer community, the business is about reclaiming a cultural phenomenon. 'That's the whole point,' she says when I ask her if she hopes her business can counteract the negative global perception generated by Americans in recent years. 'As a queer person, this is a reclamation project. Western wear is really interesting because it is worn by both ultra conservatives and liberal and queer people. 'In the past, I found it difficult to find my footing as a queer person. I went to Pride, but I don't really enjoy parades. Even at other queer-owned businesses, I always felt like a bit of an imposter.' De Biasse's team are all Americans, or 'honorary' Americans. (Image: Gordon Terris) De Biasse tells me that Cowpeople is intended to bring people together, regardless of their beliefs or identities. 'We work really hard to be generally inclusive and intersectional. All of our staff are members of the queer community. You'll see trans youth shopping alongside straight old men from the Opry. 'It's good because we are sometimes asked questions about our political leanings and about things like pronouns. It's great to have really meaningful conversations with our audience. Far too often with algorithms, we get siloed on social media.' The recent Irn-Bru campaign, which De Biasse concedes was a 'big deal', helped to solidify their growing customer base. In May, Irn-Bru posted on Instagram: 'This town IS big enough for the both of us. IRN-BRU have teamed up with the iconic Cowpeople to bring you something totally BRU-nique. 'Look out for limited edition BROOTIN' TOOTIN' IRN-BRU bandanas available ONLY at Cow People in Glasgow's Barras Market, while stocks last! 'Saddle up - it's time to quickdraw a can and head to the Wild West!' De Biasse has partnered with Irn-Bru in recent months. (Image: Gordon Terris) Cowpeople's success is helped by its domination of the vintage cowboy apparel market. 'We're the only western wear store in Scotland, so people come from all over Europe to visit,' De Biasse says. 'We get tourists from all over the place. Last week, a family from Norway visited and a girl from Spain flew in. People from Berlin come all the time.' Asked what the future holds for Cowpeople, De Biasse says she would like to expand further, and eventually, open a location in the United States. Read more: 'We are really excited about launching our website next week. We've received so many DMs asking if we can ship items, and now we will be able to. 'It seems that every month and every year, the business levels up. So we are open to a different way of doing things and new possibilities. 'One day there will be multiple locations, and one in America, which feels full circle in a way. We want to bring that queer job back to a place that really needs it. 'One of my friends told me: ' You need to party to be able to protest,' and I think the road is open now. I'm ready to get involved.'