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How to efficiently file individual income tax returns: A workflow guide for accounting firms

ThomsonReuters

Filing individual income tax returns can be a complex process, but with the right workflow, professional tax preparers and accounting firms can streamline the experience for both clients and staff. Harnessing technology for individual income tax return filing can transform the efficiency of accounting firms.

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Balancing innovation and oversight: Practical steps for AI integration in tax and accounting firms

ThomsonReuters

According to the Thomson Reuters Institute 2024 Generative AI in Tax Firms report , nearly half ( 47% ) of tax firm respondents are excited or hopeful about GenAI, driven by the potential for increased efficiency and productivity. Regularly review and update these policies to stay current with changes in the law.

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Exploring key 2024 tax bill proposals

ThomsonReuters

Webinar How to utilize generative AI to excel your tax and accounting services Learn how GenAI can help you create new insights, solutions, and opportunities for yourself and your clients. What does this mean for my firm? Also, the act addresses the use of optical character recognition (OCR) software.

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Why accounting firms should improve their tech stack

ThomsonReuters

Today, a growing number of private equity investors are entering the accounting market as they’ve discovered that investing in accounting firms can yield great returns. That is, if the firm is a good fit and has the right appeal. Why is an accounting firm’s tech stack important to private equity?

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4 things tax and audit professionals to know about agentic AI

ThomsonReuters

For tax and accounting firms, agentic AI has the potential to dramatically transform workflows, client services, and the nature of professional work itself. Streamlined compliance: AI agents could monitor regulatory changes, flag potential compliance issues, and even assist in preparing and filing tax returns.

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4 things tax and audit professionals need to know about agentic AI

ThomsonReuters

For tax and accounting firms, agentic AI has the potential to dramatically transform workflows, client services, and the nature of professional work itself. Streamlined compliance: AI agents could monitor regulatory changes, flag potential compliance issues, and even assist in preparing and filing tax returns.

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Spotlighting Women in Advisory Practice: Answering the call to accounting with Brittany Lanphier, CPA

ThomsonReuters

Like most accounting firms, they were heavily transactions-focused with clients utilizing them mostly as bookkeepers and for doing their tax returns. Dennis Lanphier, an attorney in addition to being an accountant, can handle complex tax situations.)

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