New AI Features from Bloomberg Tax & Accounting Simplify Complex Tax Research

ARLINGTON, Va., March 10, 2025 /PRNewswire/ -- Today Bloomberg Tax & Accounting announced the launch of two new generative AI-powered features, Bloomberg Tax Answers and AI Assistant. Bloomberg Tax Answers replaces hours of tax research with fast and precise answers to tax questions with supporting primary sources and industry leading expert analysis, enabling tax practitioners to quickly find, validate and apply information to their workflows. AI Assistant is a chat-based research tool that allows users to ask targeted questions to identify specific information from within a document, including Bloomberg Tax's market leading Portfolios, and to build a chart comparing tax information across jurisdictions. Bloomberg Tax Answers and AI Assistant are available within the Bloomberg Tax platform at no additional charge.

Bloomberg Tax Answers leverages generative AI and authoritative content to provide a brief but meaningful answer to a user's search directly on top of regular search results, with no need to learn a new tool. Each answer generated includes citations and links to the Bloomberg Tax authorities and source documents used to generate it, including select primary and secondary sources such as the Internal Revenue Code, federal and state tax agency documents, state tax statutes and regulations, and Bloomberg Tax content.

Bloomberg Tax's AI Assistant supports a number of important research tasks. Currently, the tool allows customers to generate summaries of Bloomberg Tax Analysis, saving significant time in their research by providing clear, easy-to-read overviews of documents. Users can also ask the AI Assistant specific questions about the document to quickly identify the information they are looking for. Similarly, the assistant allows customers to ask the AI Assistant to create a chart comparing tax information across jurisdictions.

"The latest AI-powered features for Bloomberg Tax & Accounting showcase our dedication to innovation and solving complex tax research challenges," said Evan Croen, head of Bloomberg Tax. "Bloomberg Tax Answers and AI Assistant deliver rapid, accurate answers and facilitate cross-jurisdictional comparisons. Additionally, users can verify information with direct access to cited source documents, enhancing reliability and trustworthiness."

"Bloomberg Tax Answers is a very efficient method in obtaining best applicable searches from a pertinent database, as opposed to scrolling past many non-relevant searches," said a senior manager at a public corporation.

Bloomberg Tax Answers and AI Assistant will be subject to ongoing refinement based on customer feedback. AI Assistant will be updated with additional research skills in the coming months.

For more information about Bloomberg Tax & Accounting's AI innovations and approach to AI, please visit https://aboutbtax.com/bhsy.

About Bloomberg Tax & Accounting
Bloomberg Tax & Accounting provides practitioner-driven research and technology solutions that deliver timely, strategic insights to enable smarter decisions. From our unparalleled Tax Management Portfolios to technology designed to streamline the most complex planning and compliance scenarios, we deliver essential news and analysis, practical perspectives, and software that help tax and accounting professionals around the globe mitigate risk and maximize business results. For more information, visit Bloomberg Tax.

SOURCE Bloomberg Tax & Accounting