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We all know tax rules are complex. Can artificial intelligence such as used in ChatGPT address tax matters?  I gave it a try today while listening to some colleagues deliver an online chat about the abilities and limitations of ChatGPT.  I tried two prompts with it which I summarize below with some commentary. Spoiler alert – the 2nd prompt led

For COVID relief, both the federal government and some state governments had funds for individuals/households. Congress created Economic Impact Payments (recovery credits) which were specified as not taxable and states followed that. Some states such as California had additional relief such as the Golden State Stimulus payments where were labeled as a one-time tax refund and available only to individuals

I thought Congress would repeal or extend the Tax Cuts and Jobs Act of 2017 delayed change to §174 that changes from expensing R&D (the law since 1954) to capitalizing and amortizing over 5 years (domestic) or 15 years (foreign). After all, a key purpose of the TCJA was to make our tax system more internationally competitive. Providing a more