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Can GPT Optimize My Taxes?

Mar 31, 2024 - finedataproducts.com
The blog post discusses the creation of an AI tax advisor using an open-source US tax scenarios library and a GPT interface. The AI tax advisor, named Tax Driver, uses a python library called 'tenforty' to turn tax form calculations into python function calls, allowing it to evaluate various tax scenarios. The author notes that while the AI tax advisor can handle a wide range of tax scenarios and produce useful summaries and python code, it can also be frustrating due to its occasional inability to understand the user's request or produce the requested output.

The author acknowledges that the AI tax advisor places a lot of burden on the user to know what they want and interpret the results. Despite its limitations, the author finds the AI tax advisor useful for generating 'tenforty' code that can be used for further analysis. The author also provides information about 'tenforty', an open-source package that uses the Open Tax Solver to perform tax calculations. The post concludes with a discussion of the limitations and testing of 'tenforty'.

Key takeaways:

  • The author has created a GPT interface to an open-source US tax scenarios library called 'tenforty', which is designed to evaluate tax return scenarios.
  • The system, named 'Tax Driver', can evaluate a wide range of tax scenarios and produce tables, graphics, and Python code to summarize the results.
  • However, the system can sometimes miss the point of a given scenario request, defy specific instructions, and be erratic in its responses.
  • The author acknowledges that while the system can be a useful tool, it requires a patient and knowledgeable user to interpret the results and iterate upon them.
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