Webcast: AI in Modern Tax Practice: Opportunity, Obligation and Application
Overview
This course explores the impact of Artificial Intelligence on the tax professions, detailing its capacity for dramatic efficiency gains, the fundamental shift it brings to the professional’s value proposition, and its potential to disrupt traditional business models. It distinguishes between high-risk/high-return general-purpose AI and secure, source-grounded AI, highlighting critical concerns like “hallucinations” and data privacy. Participants will examine comprehensive professional obligations under IRS Circular 230, the AICPA Code of Professional Conduct, and federal laws, underscoring the imperative for rigorous due diligence in AI tool selection and use. The program includes practical demonstrations of using Google Gemini for complex conceptual research with advanced prompting techniques, including the use of Deep Research and NotebookLM for secure, source-grounded analysis of sensitive documents like court opinions, illustration how to move from raw data to actionable insights with verifiable citations.
Highlights
- The transformative impact of AI on tax practice, covering efficiency gains, evolving professional value propositions, and potential disruptions to traditional business models.
- A critical distinction between General-Purpose and Domain-Specific AI, highlighting inherent risks like "hallucinations" and data privacy issues associated with general-purpose tools.
- Comprehensive review of professional obligations under IRS Circular 230, the AICPA Code of Professional Conduct, and federal data safeguarding laws (e.g., IRC §§ 6713 & 7216, FTC Safeguards Rule).
- A framework for rigorous due diligence in selecting and implementing AI tools, including vendor vetting, data security, algorithmic transparency, and contractual safeguards.
- Practical application and demonstration of AI tools, showcasing techniques for effective research using general-purpose AI (like Google Gemini) and secure, source-grounded analysis of documents with specialized platforms (like NotebookLM).
- Key recommendations for firm leadership on developing AI usage policies, establishing vetting committees, implementing mandatory training, and updating Written Information Security Plans (WISPs) for compliant AI adoption.
Designed For
Any accounting professional looking to stay ahead of tax changes impacting their organizations and clients.
Leader(s):
Leader Bios
Edward K. Zollars, CPA, Thomas, Zollars & Lynch, Ltd.
Edward K. Zollars, CPA, is in public practice in Phoenix, Arizona as a partner with the firm of Thomas, Zollars & Lynch, Ltd. He has been in practice for more than 35 years, specializing in tax issues for closely held businesses and individuals. Zollars has been professionally involved with both tax and technology issues, combining the two disciplines in producing the Current Federal Tax Development Update Podcast and website, dealing with current tax issues. He has been a member of AICPA Tax Division Committees focusing on tax and technology issues and was the Tax Section’s representative on three occasions to the AICPA’s Top Ten Technologies project. He is also a member of the Phoenix Tax Workshop’s Advisory Committee and currently serves on the Tax Legislation Liaison Committee for the Arizona Society of CPAs. Zollars was selected as a Life Member by the Arizona Society of CPAs in May, 2010. Along with writing, editing and presenting courses for Loscalzo Institute, Zollars has written articles published in Practical Tax Strategies and the Tax Adviser. He has been a frequent contributor to a number of professional tax discussion groups, and served as systems operator on the AICPA’s Accountants Forum in the mid-1990s. He has spoken regularly on tax and technology topics since 1996, speaking before conferences sponsored by the AICPA and a number of state societies of CPAs.
Non-Member Price $70.00
Member Price $70.00