As tax preparation providers offer artificial intelligence in their products, the technology is still not trusted by half of taxpayers, Accounting Today reported.
Fully 50 percent of those surveyed said that they are unlikely to trust companies that use AI to support filing taxes. More than half, 55 percent, are likely not to trust AI to give advice on filing taxes accurately.
"These insights help show the diverse concerns that taxpayers hold, especially when technology and personal finances intersect more than ever," reported Trustpilot, on whose behalf the poll was conducted by Attest. "Even without putting things like AI into the mix, it's no secret that taxes are incredibly challenging and confusing for consumers in the U.S. These trends can help both businesses and consumers by helping consumers understand where their confusions and concerns align with other consumers and helping businesses better educate and guide their customers through each tax season."
The report’s findings were consistent with other findings about the use of AI in tax preparation. Relying on either TurboTax’s or H&R Block’s chatbot for even lightly challenging tax questions could confuse the user, or even trigger an audit, The Washington Post’s technology columnist wrote in a review of the software last month.
“The good news is that you can completely ignore the chatbots and still do your taxes,” wrote Geoffrey A. Fowler, adding that his experience “shows we should be especially wary of generative AI when there are real-life consequences to it being wrong.”
The poll of 999 respondents about tax filing preferences and the role of technology was conducted across the U.S. from March 28 to 29.