Tech News: H&R Block offers AI tax assistance

Tax preparation and financial services firm H&R Block released its H&R Block AI Tax Assist solution, trained on the expertise and experience of H&R Block professionals. The new software can provide information on tax forms, deductions and credits. It guides individuals through questions as they prepare and file their taxes. It answers tax theory questions and offer navigation instructions when needed. The technology can answer free-form tax-related questions, providing dynamic responses that clarify tax terms and give guidance on specific tax rules or general information about the U.S. and state tax system. The system can also answer questions about the Tax Code, and recently changed laws and tax policies. In addition to AI Tax Assist providing guidance on specific tax rules, it can also answer questions about which H&R Block DIY product is best for each filing situation to aid individuals filing returns. The company offers several options for DIYers to file online, plus H&R Block AI Tax Assist and Live Tax Pro support are included at no extra charge when you file with H&R Block Deluxe, Premium or Self-Employed Online Editions. 

Tax solutions provider StanfordTax has developed a solution to create tax organizers for accountants and tax professionals using AI. The technology consolidates data from 30-plus tax source documents, including 1099s, W-2s, K-1s and others, then integrates with all major tax software to complete and send the client organizer. StanfordTax enables accounting and tax firms to generate personalized client organizers based on prior-year information for 1040s 1120s, 1120S's, 1065s and more.  The software connects with tax platforms including ProSystem fx, ProSeries, UltraTax, CCH Axcess, Lacerte, Drake and ATX. Once a client submits their info and documents, StanfordTax generates an organized workpaper. Documents are automatically categorized and workpapers are bookmarked and ordered so documents can be found. Client responses are automatically organized and every workpaper comes with an organizer that includes all responses provided by the client. The platform then generates a personalized questionnaire for each client, including prior-year numbers, document checklists and more. An overview video of Stanford Tax can be viewed here.

Payment solutions provider Bill (formerly Bill.com), announced new features for its Bill Spend & Expense solution, formerly known as Divvy. Some of the new features enhance customization abilities. Users can adjust spending limits based on business needs or maintain continued spending with a buffer; implement spending policies for enforcement and compliance; create sequential or non-sequential approval flows involving key personnel; and control overspending to avoid unwanted card declines, or forgo budget limits and only get declines when a credit limit is reached. There are also new organization features. Users can view budgets together and gain real-time visibility about spend across the organization, organize multiple budgets with the new budget groups feature, and delegate budget management responsibilities to group owners without having to give up control.