Monthly Tax Update with Ed Zollars: AI in Modern Tax Practice: Opportunity Obligation, and Application (2 hours - afternoon) - Webcast
Overview
This course explores the impact of Artificial Intelligence on the tax profession, detailing its capacity for dramatic efficiency gains, the fundamental shift it brings to the professional's value proposition, and its potential to disrupt traditional business models. It distinguishes between high-risk/high-return general-purpose AI and secure, source-grounded AI, highlighting critical concerns like "hallucinations" and data privacy. Participants will examine comprehensive professional obligations under IRS Circular 230, the AICPA Code of Professional Conduct, and federal laws, underscoring the imperative for rigorous due diligence in AI tool selection and use. The program includes practical demonstrations of using Google Gemini and ChatGPT for complex conceptual research with advanced prompting techniques, including the use of Gemini Deep Research and NotebookLM for secure, source-grounded analysis of sensitive documents like court opinions, illustrating how to move from raw data to actionable insights with verifiable citations.
OSCPA has partnered with the Idaho Society of CPAs for this event.
Note: Title changed and was initially advertised as: "Monthly Tax Update with Ed Zollars (2 hours - afternoon) - Webcast"
Highlights
- The transformative impact of AI on tax practice, covering efficiency gains, evolving professional value propositions, and potential disruptions to traditional business models.
- A critical distinction between General-Purpose and Domain-Specific AI, highlighting inherent risks like "hallucinations" and data privacy issues associated with general-purpose tools.
- Practical application and demonstration of AI tools, showcasing techniques for effective research using general-purpose AI (like Google Gemini) and secure, source-grounded analysis of documents with specialized platforms (like NotebookLM).
- Comprehensive review of professional obligations under IRS Circular 230, the AICPA Code of Professional Conduct, and federal data safeguarding laws (e.g., IRC §§ 6713 & 7216, FTC Safeguards Rule).
- A framework for rigorous due diligence in selecting and implementing AI tools, including vendor vetting, data security, algorithmic transparency, and contractual safeguards.
- Key recommendations for firm leadership on developing AI usage policies, establishing vetting committees, implementing mandatory training, and updating Written Information Security Plans (WISPs) for compliant AI adoption.
Designed For
CPAs and tax professionals
Objectives
Get Up-to-date information on a variety of tax topics
Leader(s):
Leader Bios
Edward Zollars, Partner, Thomas Zollars & Lynch Ltd
Edward K. Zollars, CPA-AZ, is in public practice in Phoenix, Arizona as a partner with the firm of Thomas & Zollars & Lynch, Ltd. He has been in practice for over twenty-five years, specializing in tax issues for closely held businesses and individuals. Ed has been professionally involved with both tax and technology issues, combing the two disciplines in starting the first tax podcast (Ed Zollars Tax Update, produced weekly dealing with current tax issues. He has been a member of AICPA Tax Division Committees dealing with tax and technology issues and was the Tax Section's representative on three occasions to the AICPA's Top Ten Technologies project. Ed is also a member of the Phoenix Tax Workshop's Advisory Committee, and currently serves on the Tax Legislation Liaison Committee for the Arizona Society of CPAs.Ed was selected as a Life Member by the Arizona Society of CPAs in May of 2010. Ed is a co-author of the Arizona Income Tax Guide published by the Phoenix Tax Workshop, and has written articles published in Practical Tax Strategies and the Tax Adviser. He has been a frequent contributor to a number of professional tax discussion groups, and served as systems operator on the AICPA's Accountants Forum in the mid 1990s. He has spoken regularly on tax and technology topics since 1996, speaking before conferences sponsored by the AICPA and a number of state society of CPAs.
(02/25/25)
Non-Member Price $120.00
Member Price $100.00