4.6 • 8.7K Ratings
🗓️ 6 March 2024
⏱️ 11 minutes
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Few clichés are as well-worn, and grounded in reality, as the dread many Americans feel towards doing their taxes and the loathing they have for the IRS. But as much as the process is despised, relatively little is known about how it could be improved. Reporter Jessica Huseman said that's largely because tax prep companies keep it that way. Brooke spoke to Huseman in 2017 about what an improved system might look like and how tax prep companies work to thwart any such changes.
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0:00.0 | The Washington Post reported this week that TurboTax and H&R Block have added AI Chatbots to their tax prep software. |
0:14.0 | The Post's tech columnist Jeffrey Fowler sat with two actual tax pros |
0:20.0 | to test the ChatBots know-how. |
0:22.0 | The results weren't so great. He says the bots flubbed more than half of the questions he fed them. |
0:30.0 | Both companies have disclaimers underneath their chatbots. |
0:33.7 | TurboTax says, Intuit Assist is still developing and will improve with your help. |
0:39.3 | An H&R Block warned that AI Tax Assist is a digital helper that's still learning, so please review all |
0:46.8 | responses. As Fowler cautioned, when a product's fine print says, don't trust us, you shouldn't. |
0:55.0 | All of which is to say, it's tax time. |
0:59.0 | Each year, around this time, messages pop up in our Twitter feed feed referring to a story we did some years |
1:04.9 | back on tax filing it's become something of a PSA why because filing taxes is a fraud business. It makes sense we turn to companies like |
1:16.2 | Intuit or H&R Block who say they're more than ready to step in, save us money, and |
1:22.3 | simplify our lives. |
1:24.4 | Your life is busy, growing. |
1:27.1 | We might say it has layers. |
1:29.1 | That means tax complexity. |
1:32.2 | We get it, and we're on it. |
1:35.0 | They do get how complex the tax system is because their business model is based on it |
1:40.2 | staying that way. |
1:41.6 | Jessica Hooseman, editorial director of Boatbeat, |
1:45.1 | says that in the face of our overwhelmingly complex tax |
1:48.7 | system, firms like Intuit, which makes TurboTax spend heaps of cash to ensure that it stays overwhelming. |
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