H&R Block, the renowned tax preparation company, has launched AI Tax Assist, a conversational AI chatbot designed to answer tax-related queries.
This new feature is available through the paid versions of H&R Block’s DIY tax software, offering users a platform to ask questions about tax rules, potential exemptions, and other tax-related issues.
The AI Tax Assist chatbot is designed to help users with complex tax filing statuses, like gig workers, to start their tax returns. For instance, if an Uber driver asks, "What can I deduct as business expenses?", the AI will provide a list of allowable deductions. The user can then choose whether to use this list in their final filing.
H&R Block has made it clear to users that the feature is powered by AI, with a banner displayed to inform users of this. The company believes that informing customers about the use of AI will help build trust. H&R Block also highlighted that AI Tax Assist doesn't just tell users what to do with their taxes, but also helps them understand how their tax filing works.
AI Tax Assist was built using models from OpenAI and Microsoft, and was trained solely on H&R Block’s library of tax laws. The company has a team monitoring the model for accuracy, and if users have any concerns about the AI-provided answers, they can double-check the information with a human expert.
While AI Tax Assist is not available on the free version of the app, H&R Block has confirmed that it will not increase the prices of its subscription tiers that offer access to the AI platform.
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