StanfordTax is leveraging artificial intelligence (AI) to help accountants and tax professionals eliminate manual work.

NEW YORK, NEW YORK, USA, December 13, 2023 /EINPresswire.com/ -- StanfordTax is leveraging artificial intelligence (AI) to help accountants and tax professionals eliminate manual work and inefficiencies in the collection of tax information from clients.

StanfordTax integrates seamlessly with accountants’ tax filing software to generate personalized questionnaires & checklists based on clients' prior year data. The technology processes data from 30-plus tax source documents including 1099s, W-2s, K-1s and others.

Unlike traditional PDF organizers which have an estimated 25% completion rate, StanfordTax questionnaires have a completion rate above 75%. Firms using StanfordTax have attributed this difference to the ease of use and personalized client experience (for example, skipping irrelevant topics and showing prior year numbers).

In addition to automating the collection of a client’s tax information, StanfordTax also automates the organization of that information. Once a client completes their questionnaire, StanfordTax's AI engine generates a PDF workpaper with the client’s tax information & documents automatically categorized and bookmarked.

“Adopting technologies with artificial intelligence is the key for accounting professionals to reduce the administrative burden in their firms which will allow them to scale their firms and reduce the time spent on each client during the tax preparation process,” said Dan Berenholz. “The tax preparation process in particular is an ideal area for artificial intelligence to be leveraged for efficiency, accuracy and productivity gains.”

StanfordTax works with 1040, 1120, 1120S, and 1065 returns, and integrates with tax platforms including CCH Prosystem fx, CCH Axcess, UltraTax, Lacerte, Proseries, Drake and ATX. View the overview video of StanfordTax here.

About Stanford Tax

StanfordTax provides automation solutions for accountants and tax professionals and is specifically focused on automating the collection and organization of tax information from clients. StanfordTax’s proprietary technology integrates with the major tax filing platforms to generate personalized questionnaires for clients based on their prior year tax data. StanfordTax’s AI Engine understands the information and documents provided by a client and organizes the information into a format that is optimized for tax preparation. The company is based in New York City. Learn more at StanfordTax.com.

Dan Berenholz
Stanford Tax
+1 517-918-9353
email us here

Stanford Tax Software

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