The Council on AI Risk in Tax (CART) has been launched by the American Institute of CPAs and former IRS Commissioner Danny Werfel. CART aims to establish a tax-specific AI risk framework and develop resources for responsible use of AI in the tax profession, as errors made by AI systems can have vast implications for tax filings and the credibility of tax firms. The initiative has brought together participants from tax, law, government, academia, and technology sectors.
It is 7:42 p.m. inside a CPA firm, two weeks before a filing deadline. A tax manager asks an AI tool to summarize a technical issue, gets a polished answer in seconds, and almost sends it into review. Then one citation looks strange. It does not exist. Th...
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