Still Haven’t Filed Your Taxes? Generative AI Can Help You Get to the Finish Line, Faster
Since 1955, “Tax Day” in the U.S. has been April 15 (or the next business day if it falls on a weekend or a holiday). Even though taxes are essentially due on the same day every year, many Americans still find themselves scrambling to make the deadline. If you’re one of the 10% to 15% of taxpayers who won’t file on time, new generative AI tools might help you get to the finish line, faster.
Whether you filed for an extension or just didn’t get around to finishing, generative AI offers the promise of more intelligent document experiences that can help you to navigate the mysterious maze of tax documents and get more informed and prepared.
Adobe’s new Acrobat AI Assistant is a generative AI-powered conversational engine you can use with tax documents, as well as other digital documents. Acrobat AI Assistant includes an array of helpful features. To bring these features to life, let’s apply them to IRS Publication 334, Tax Guide for Small Businesses.
- Get a quick summary: Open the guide in Acrobat, click the Generative Summary icon in the upper right corner and up comes a short overview of this very long document—complete with a list of sections, like “Are You Self Employed?” and “Business Owned and Operated by Spouses.” Click on an item and AI Assistant instantly takes you to the section, making navigation a snap.
- Chat with your tax doc: Have questions? Click on the AI Assistant icon and you’ll get a list of recommended questions. For example, “What types of transportation expenses can be deducted for business travel?” Select the question and you’ll receive a list of deductible expenses mentioned in the document, along with clickable citations that allow you to quickly verify and navigate to the source. You can also follow up with your own questions, for example, "What kind of records do I need to have to support business expense deductions?”
- Consolidate and share: Once AI Assistant generates a list of the records you need to keep for business expenses, you want to verify you’re not missing anything. AI Assistant can also format information into content like emails, reports and even presentations. So, you ask AI Assistant to take the information it just generated and format it into an email for your accountant. In just a few seconds, you have a draft that you can easily copy (via a handy copy button), paste into your Gmail, edit a bit to make it more personalized and send.
More than taxes
Taxes are just one way you can use AI Assistant to completely change how you navigate, understand and put to work the information inside those mountains of documents—even those that have been sitting in your “read later” folder for ages. For example, at work, you can summarize takeaways and action items from long meeting transcripts or quickly surface and share top findings in research reports. If you or colleagues on your team are charged with finding information for things like RFPs and presentations, Acrobat AI Assistant can help you quickly locate, format and share key technical information or customer pain points. In your personal life, AI Assistant can help you find those pesky terms and conditions in the warranty for your new refrigerator, and teachers and students can create helpful study guides.
Keeping your documents safe
From tax documents to contracts, PDFs are where individuals and organizations keep their most important information. AI Assistant features in Reader and Acrobat are governed by data security protocols, and no customer document content is stored or used to train AI Assistant without their consent. This means that whether you’re an individual, small business owner or work in a larger company, you can use AI Assistant with confidence.
Start getting more productive today
The full range of Acrobat AI Assistant capabilities is available to anyone with free Reader or paid Acrobat for individual plans through a new add-on subscription. To try out the features, just open Acrobat and start chatting with your documents.