Maximize Your Tax Refund with H&R Block's AI Chatbot for Expert Tax Filing
Published on: March 10, 2024
H&R Block has unveiled AI Tax Assist, a conversational AI chatbot integrated into its paid DIY tax software versions. This innovative feature is designed to answer complex tax-related queries, offering guidance on tax rules, possible exemptions, and other pertinent issues.
Accessible through paid tiers of H&R Block’s software, AI Tax Assist not only provides information but also directs users to human tax experts for personalized advice. The company is also exploring AI-driven personalized advice in future updates.
In a recent demonstration, the company showcased how AI Tax Assist aids users with intricate tax filing statuses, such as gig workers. For instance, an Uber driver can inquire about deductible business expenses, and the AI responds with a list of allowable deductions, assisting users in their final filing decisions.
H&R Block ensures transparency by displaying a banner indicating the AI's involvement. The company believes that disclosing AI usage builds customer trust, leveraging the strong reputation it has already established.
AI Tax Assist is designed to educate users about their tax filings rather than just instructing them. It offers insights into various tax exemptions, and the tax implications of assets like cryptocurrencies.
Chris Linderwell, VP of Consumer Tax Products at H&R Block, emphasized the aim of AI Tax Assist to retain users on their platform for tax queries, reducing reliance on external sources like Google for tax information.
Though AI Tax Assist is currently not available in the free app version, H&R Block has no plans to increase the pricing of its subscription tiers that include the AI feature. The starting price for these plans is $35.
Developed in collaboration with OpenAI and Microsoft, AI Tax Assist leverages H&R Block's extensive tax law library and the expertise of its tax professionals. The AI model strictly adheres to H&R Block's content, ensuring accurate and reliable tax assistance.
Recognizing the potential for AI-generated errors, H&R Block ensures robust monitoring and accuracy checks. Users can always seek validation from human experts if uncertainties arise.
As the tax filing process remains complex, leading companies like H&R Block and Intuit are continuously evolving their services, incorporating AI technologies. This trend is juxtaposed against the backdrop of the government experimenting with its own tax filing software, highlighting the ongoing demand for private tax assistance platforms.