ChatGPT's Tax Law Mastery: Will Tax Pros Be Left in the Dust?

Hello and welcome back to another thrilling day in accounting, as ChatGPT tries to one-up tax lawyers.

Let’s get to it. Here’s what’s on the menu today:

📰 News: ChatGPT’s Tax Law Mastery: Will Tax Pros Be Left in the Dust?

🖥️ Daily AI Tutorial: How To Outsource Your Twitter Account to ChatGPT

⚡️ Daily ChatGPT Swipe File: My Twitter Growth ChatGPT Prompt

🗞️ News: ChatGPT’s Tax Law Mastery: Will Tax Pros Be Left in the Dust?

Buckle up, people. It seems like AI has found a new sandbox to play in, and it's filled with tax codes and legal jargon.

In a recent academic paper titled "Large Language Models as Tax Attorneys: A Case Study in Legal Capabilities Emergence," a team of researchers from Stanford University have been putting AI through a legal boot camp.

They've been testing Large Language Models' (LLMs) ability to comprehend and apply tax law.

Why tax law, you wonder? It's like the Everest of legal fields - complex, challenging, and crucial to the economic lives of citizens and corporations.

Plus, it's a perfect litmus test for AI's legal prowess.

The verdict? It's a bit of a rollercoaster. The study found that LLMs, especially when paired with prompting enhancements and the right legal texts, can perform with impressive accuracy, but they're not quite ready to steal our tax clients (yet). But here's the twist: each new OpenAI model release shows better performance.

So, while we're still debating if cereal is a soup (it's not), AI is busy hitting the law books.

The potential here is mind-boggling. If AI can master law, it could spot inconsistencies in existing laws, demystify complex regulations, and even forecast the impacts of new laws or policies.

But let's not get ahead of ourselves. These models aren't ready to don the lawyer's robe just yet. They're still in the learning phase, and there's a long road ahead.

So, while we're still trying to remember our email passwords, AI is busy prepping for its legal debut. The future is knocking, folks, and it's carrying a briefcase full of tax codes.

And for all you tax pros out there, this is a wake-up call. The AI revolution isn't just coming, it's here. And it's studying tax law. To stay ahead of the curve, it's going to be crucial to leverage tools like ChatGPT. The future of tax law might just be a conversation away.

🖥️ AI Tutorial of the Day: How To Outsource Your Twitter Account to ChatGPT

If you’re reading this you probably don’t have 100K twitter followers…yet.

Twitter is a tough nut to crack and coming up with helpful and clever tweets can be a full-time job.

Rather than outsource to an expensive marketing pro or burn away time that you can be spending on clients, now you can just ‘GPT it’.

In today’s tutorial I show how you can get ChatGPT to:

1. Analyze your Twitter account.

2. Review your prior writing style.

3. Write an entire twitter thread for you based on your very own style and tone.

Whew…this was fun, let’s go.

Here’s the video I made on how I did it step-by-step:

⚡️ Daily ChatGPT Swipe File: My Twitter Growth ChatGPT Prompt

Here is the direct ChatGPT link that you can literally copy/paste your own Twitter info to get ChatGPT tweeting for you.

It will automatically grab the correct plugin for you too. 💪

(Note: You must have a ChatGPT Plus subscription as this does not work with the free edition):

👋 See You Tomorrow

That’s it for today folks!

In the meantime, if you want live updates, join over 95,000 other accountants, tax pros and entrepreneurs who follow me across YouTube, Twitter, and LinkedIn.

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Until next time!

Marc

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