A.I.ntelligent Consulting™
AI in Tax Consulting: Innovation with Integrity
At 1st Avenue Advisors, we embrace artificial intelligence (AI) as a powerful tool to enhance the quality, accuracy, and speed of tax consulting, but only when applied with the same care, experience, and ethical standards that define our firm.
AI as a Catalyst for Better Outcomes
Used responsibly, AI can elevate tax consulting by streamlining research, enhancing data analysis, and identifying opportunities that may otherwise go unnoticed. When paired with the judgment of seasoned professionals, it helps drive smarter strategies, clearer insights, and better results for our clients.
Misused AI Can Be Costly
Despite its promise, AI is not a substitute for expertise. Poorly implemented or unchecked AI solutions can lead to significant risk, including misfiled claims, IRS audits, back taxes, and substantial penalties. The tax code is complex and ever-evolving, and relying on AI without experienced oversight can cause more harm than good.
The IRS is already warning taxpayers about over reliance on AI in tax preparation, encouraging taxpayers to "seek assistance from qualified professionals if needed to ensure compliance with tax laws and regulations" because "AI assistants may encounter difficulties interpreting complex tax laws correctly or considering unique circumstances that could impact a taxpayer’s return. As a result, taxpayers should not solely rely on AI-generated tax advice."
Our Approach
Human Judgment + Responsible Innovation
At 1st Avenue Advisors, we use AI with purpose and precision, never as a shortcut or substitute for Expertise and Experience. Every output is reviewed and validated by our experienced consulting team to ensure the work meets the highest standards of technical accuracy and regulatory compliance.
We also adhere strictly to all professional ethical standards in how we use AI. Client confidentiality, data security, and informed judgment are non-negotiable principles that guide our use of any emerging technology.
Secure. Ethical. Expert-Driven.
AI has the power to transform tax consulting but only when it’s used the right way. At 1st Avenue Advisors, we blend cutting-edge tools with proven experience to deliver safer, smarter, and more strategic outcomes for every client.