These are the AI ​​tips for filing your income tax return

Over the last year, the trend has grown to delegate some basic tasks to different forms of artificial intelligence (AI).

Oliver Thansan
Oliver Thansan
27 March 2024 Wednesday 10:26
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These are the AI ​​tips for filing your income tax return

Over the last year, the trend has grown to delegate some basic tasks to different forms of artificial intelligence (AI). The possibilities of AI are almost endless; It covers a wide variety of knowledge for the different fields of wisdom, since it is capable of developing everything from doctoral theses to a list of tips to succeed in a tax procedure, such as the 2023 income tax return.

In this case, Chat GPT has been able to generate a series of recommendations to settle accounts with the treasury in the most efficient way possible and achieve the desired objective: pay less. However, the chatbot app warns that while it may provide general information and advice, it is important to note that its responses "should not be considered specific financial or legal advice."

Consulting with this tool, however, can be very useful to get an idea of ​​how to approach this procedure, especially if it is the first time that you have to file an income tax return.

To begin, Chat GPT focuses on the importance of gathering and reviewing all essential documents. This includes income certificates, withholdings, tax deductions, as well as any other relevant financial information. Having all this documentation organized will facilitate the process and help avoid possible errors. It is important to have all the documentation at hand when preparing the declaration and not forget the identity document (NIF or NIE) or the necessary bank details.

The artificial intelligence developed by Open AI points out the importance of being clear about what type of income must be declared and whether you are really obliged to submit the income tax return. In addition, Chat GPT emphasizes that it is essential to understand the different deductions and tax benefits to which you may be entitled, as this can significantly impact the final result of the declaration.

To take advantage of the digital era, there are numerous online tools and specific software that can simplify the process of filing your income tax return. Platforms such as Renta Web offered by the Tax Agency allow taxpayers to complete their declaration quickly and easily, avoiding possible manual errors. Likewise, Chat GPT remembers, "the Tax Agency provides help tools on its website, such as computer programs and explanatory guides, which can facilitate the declaration process."

Once you have completed your tax return, it is crucial to carefully review all the data entered and ensure that no avoidable errors have been made. The Treasury "usually provides a pre-filled declaration proposal with the tax data it has registered about you," explains the chatbot. However, you must verify that the information is correct and complete, and make sure to apply all tax deductions and benefits to which you are entitled, such as deductions for habitual residence, donations, education expenses, among others. A thorough review can avoid problems with the treasury.

In the final stretch, doubts or complex tax situations may arise. In this case, you should consider consulting with a tax advisor or specialized manager, since these professionals can provide personalized guidance, help optimize the declaration and ensure that all tax obligations are being met appropriately. It is common to make use of this resource, not only on a professional level, but also for the home or couple's economy.

Finally, Chat GPT warns of the importance of respecting the deadlines established by the Tax Agency, whose income campaign starts on April 3 and ends on July 1. This is essential to avoid possible penalties for submitting the declaration after the deadline. Planning this procedure in advance to have enough time to review and complete the declaration will be essential to guarantee a smooth process.

Finally, the AI ​​analysis concludes: “By following these detailed recommendations, you will be able to approach the tax return in Spain with greater confidence and efficiency, ensuring that you comply with tax obligations correctly and optimizing tax results.”