BarbriSFCourseDetails
  • videocam On-Demand
  • signal_cellular_alt Intermediate
  • card_travel Tax Preparer
  • schedule 110 minutes

Utilizing ChatGPT and AI in Tax Practices: Automating Repetitive Tasks, Tax Research, Training New Staff

$197.00

This course is $0 with these passes:

CPE
ALL
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Description

ChatGPT has passed the bar and CPA exams with scores well above passing. Like many of us, a passing score required multiple attempts and the input of more information. Some tax practitioners are concerned that AI will eliminate their jobs, while others are excited that they will have more time to focus on complex financial, tax, and trust and estate planning opportunities. Everyone agrees that the explosive growth of AI will continue and significantly impact all industries, particularly tax preparation.

AI automates manual processes. ChatGPT allows the user to communicate with AI using a conversational format. The uses of ChatGPT and AI by tax professionals are countless and diverse and include drafting documents, training new staff, detecting fraud, creating Excel formulas, summarizing IRS publications, researching tax questions, and responding to client inquiries. Along with opportunities, there are significant issues. ChatGPT will always provide an answer. According to OpenAI, GPT-4 is "60% less likely to make stuff up" than the prior version. Other concerns encompass data security, disclosure of sensitive information, and proprietary rights. Tax advisers need to stay abreast of this rapidly changing environment and understand the benefits and caveats of AI.

Listen as our panel of AI experts demonstrates how ChatGPT and AI are used in tax practices and how to stay ahead of this emerging technology.

Presented By

Mfon Akpan
Assistant Professor of Accounting
Parent: Northeastern State University

Mr. Akpan’s area of expertise is generating an estimated valuation of earned social media from corporate social responsibility engagement to generate an estimated return on investment and trend analysis. His professional activities include serving as a steering committee member for the American Accounting Association’s (AAA) Conference on Teaching and Learning in Accounting (CTLA) and planning committee member for the AAA’s Teaching, Learning and Curriculum Section (TLC). Mr. Akpan is a five-time TEDx speaker, and his most recent TEDx talk gives practical steps on how we can return to life after the COVID-19 pandemic. He is a doctoral candidate in Accountancy at Indiana Wesleyan University.

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Lee Reams
Founder & CEO
CountingWorks, Inc

Mr. Reams is the Founder and CEO of CountingWorks, Inc. He has been developing best-in-class marketing solutions for over twenty years and is an active speaker to the industry, hosting his Growth Minded Accountant podcast, webinars, and special events to audiences across the country.

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Credit Information

  • BARBRI is a NASBA CPE sponsor and this 110-minute webinar is accredited for 2.0 CPE credits.

  • BARBRI is an IRS-approved continuing education provider offering certified courses for Enrolled Agents (EA) and Tax Return Preparers (RTRP).

Date + Time

  • event

    Monday, October 28, 2024

  • schedule

    1:00 p.m. ET./10:00 a.m. PT

  1. ChatGPT and AI: introduction
  2. Uses
    1. Repetitive tasks
    2. Training new staff
    3. Tax research
    4. Specific examples
  3. Options
  4. Data security and privacy
  5. Future of AI

The panel will review these and other critical issues:

  • Practical applications of AI for tax professionals
  • Safeguards your firm should have in place when utilizing AI
  • The growing impact of AI on tax accounting professionals
  • Getting started with ChatGPT
  • Options available to access AI

Learning Objectives

After completing this course, you will be able to:

  • Identify ways AI will impact the accounting profession in the future
  • Determine how to get started with ChatGPT
  • Decide what uses of AI could benefit a tax practice
  • Ascertain when and why ChatGPT responses could be inaccurate
  • Field of Study: Taxes
  • Level of Knowledge: Intermediate
  • Advance Preparation: None
  • Teaching Method: Seminar/Lecture
  • Delivery Method: Group-Internet (via computer)
  • Attendance Monitoring Method: Attendance is monitored electronically via a participant's PIN and through a series of attendance verification prompts displayed throughout the program
  • Prerequisite: Three years+ business or public firm experience preparing complex tax forms and schedules, supervising other preparers or accountants. Specific knowledge and understanding of individual income taxation, including itemized deductions, individual income tax credits, net operating loss limitations including carrybacks and carryforwards.

BARBRI is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of Accountancy have final authority on the acceptance of individual courses for CPE Credits. Complaints regarding registered sponsons may be submitted to NASBA through its website: www.nasbaregistry.org.

IRS Approved Provider

BARBRI is an IRS-approved continuing education provider offering certified courses for Enrolled Agents (EA) and Tax Return Preparers (RTRP).

BARBRI CE webinars-powered by Strafford-are backed by our 100% unconditional money-back guarantee: If you are not satisfied with any of our products, simply let us know and get a full refund. Contact us at 1-800-926-7926 .