(AmericanProsperity.com) – The Internal Revenue Services (IRS) is implementing artificial intelligence tools that will change the way taxes are filed and paid.
The IRS has one of the largest sets of data of any government agency in the world and they are using AI to their advantage.
Governments are increasingly relying on machine learning and data analytics to analyze troves of tax data https://t.co/v0zO0Fojcj
— The Wall Street Journal (@WSJ) February 26, 2020
There are several applications of AI the IRS has implemented. One that everyone is familiar with is tax preparation tools that many individual filers use to fill out their annual tax returns. For example, tax programs utilize the IRS’ AI customer questionnaire at the end of the process to help taxpayers identify savings through write-offs and tax breaks they may have missed.
The IRS is also using AI to streamline ways they catch tax cheats. It now has the ability to gather data from inside and outside the agency to find high-income people and businesses who have not filed their tax returns or identify cases of tax fraud.
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