Taxfyle Launches Groundbreaking AI-Automated Accounting Tool

MIAMI, FL – Taxfyle, the internet’s leading accounting workforce, has launched Taxfyle AI, a groundbreaking solution designed to automate a significant portion of manual work required by Certified Public Accountants (CPA). By gathering the necessary information and generating required workflows, worksheets, and backup schedules, Taxfyle AI allows CPAs to achieve unprecedented levels of accuracy and efficiency in a much shorter amount of time. 

Taxfyle AI identifies pertinent data using Optical Character Recognition (OCR). It then breaks down the information into tokenized data points and generates a comprehensive list of all necessary documents. Finally, it monitors the multitude of data points to ensure accuracy and completion. It also monitors chat communication between clients and tax professionals to update information where needed.

The accounting industry has been grappling with an unprecedented chronic staffing crisis, primarily caused by increased demand, an aging workforce, and a declining number of CPA graduates entering the field. Taxfyle’s extensive data reservoir, domain expertise, and robust security measures provide its AI solution with a competitive edge in the multi-billion dollar accounting industry.

The Miami-based company’s transformative AI system allows tax professionals to transition from mere preparers to reviewers. Consequently, margins improve, and the industry’s staffing shortages find a viable solution.