CPAT ChatGPT for Tax

Generative artificial intelligence (GAI) chatbot ChatGPT has taken the country by storm. ChatGPT reached 1 million (1M) users within only 5 days of its release. What is ChatGPT? It is a computer program designed to generate answers to questions posed in human-like, conversational responses.

ChatGPT is being utilized by young and old alike in federal tax practice as we speak. But, is it ready for prime time? ChatGPT has its strengths, but also notable weaknesses. Blink your eyes and it will change (and likely get a lot better very quickly). If tax practitioners do not jump on the GAI train now, they’re likely to get left at the station.

How many of the following questions can you confidently answer?

1. Is the use of general AI (ChatGPT in particular) helpful in tax practice?
2. If helpful, in what contexts may it best be used?
3. How can ChatGPT save you time?
4. Can ChatGPT make you money?
5. What SKILL SETS capably aid you in your approach utilizing ChatGPT?
6. What are the practical limitations on its use? Can it be harmful?
7. Does ChatGPT hallucinate?
8. What are the legal and tax ethics rules applicable to the use of ChatGPT?
9. What must you know and do to prevent ChatGPT from getting you into trouble?

This course answers the above questions through a series of case study ChatGPT searches and second effort.

Objectives

–       To learn the strengths and candid weaknesses of currently commercially available generative AI (GAI) such as ChatGPT

–       To learn skill sets as to how to successfully utilize ChatGPT

–       To learn the legal and tax ethics rules applicable to the use of ChatGPT

Presenter: Bradley Burnett

Bradley Burnett, J.D., LL.M., is a practicing Colorado tax attorney with 40 years of tax practice experience.  His practice emphasis is on tax planning and tax controversy resolution.  He also prepares a handful of tax returns.

Mr. Burnett has delivered more than 3,000 presentations on U.S. tax law throughout all fifty U.S. states, Washington, D.C., the Bahamas, Italy, Greece, Turkey, and Canada. He has authored texts of 35 CPE courses.  He has appeared on television answering tax questions for call-in viewers of Denver NBC affiliate KUSA Channel 9.  Brad received the Illinois Society of CPAs Instructor Excellence Award for teaching in Chicago and five times has been the top-rated, most requested instructor for CPA Society annual tax conferences.

Burnett’s seminar style is to deliver the subject matter in briskly paced, enthusiastic and witty fashion.  His forte’ is the candid communication of practical ideas relating to tax law.

Host: Rick Telberg

• Founder and CEO CPA Trendlines, Bay Street Group
• Accounting Today Top 100
• CPA Practice Advisor Top 25

Host: Sandi Leyva

• Owner of Leyva Learning, LLC
• CPA Practice Advisor Top 25
• Most Powerful Women in Accounting