/* ---- Google Analytics Code Below */

Thursday, March 05, 2020

AI Used to Support the US Tax Code

Makes perfect sense to look for patterns and predictions based on complex rules. 

AI Comes to the Tax Code   By The Wall Street Journal

The U.S. Internal Revenue Service is using artificial intelligence to map taxpayer relationships.
The Internal Revenue Service is using artificial intelligence to design machine-built graphs that map the relationships of participants in business deals.

Governments increasingly are using artificial intelligence (AI) and data analytics to detect tax evasion, respond to taxpayer questions, and boost efficiency.

The U.S. Internal Revenue Service is designing machine-built graphs to map relationships among participants in business deals, allowing auditors to analyze transactions for signs of tax avoidance.
The agency also is employing AI to study notes that workers take when fielding questions from taxpayers, and testing which mixtures of formal notices and  contacts will most likely encourage taxpayers who owe money to pay off debts.

However, experts see potential harm if audit-selection algorithms inadvertently exhibit bias against taxpayers by race or location.

Tax preparers and accounting firms also utilize AI to minimize tax bills and advise clients.

From The Wall Street Journal
View Full Article - May Require Paid Subscription   .... 

No comments: