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AI Preps Your 1040 Before You Do

Thursday, November 6, 2025

AI Accounting Daily
Hey, Accounting Pros!
Welcome back to AI Accounting Daily, your #1 source for AI news in accounting.
Today, we’re covering Thomson Reuters’ agentic AI drafting 1040s that could make review the new bottleneck, ONESOURCE+ slashing Sales & Use Tax prep 40–60%, and clients shifting to real-time advisory with predictive cash flow and risk alerts. Plus, Google Gemini’s Gmail integration scanning entire inboxes is rekindling consent and controls debates, and a bipartisan push to require quarterly reporting on AI’s job impacts could reshape workforce planning.

Latest in Accounting AI

1

Thomson Reuters Automates 1040 Prep With Agentic AI

Thomson Reuters rolled out three agentic AI tools and expanded CoCounsel, shifting routine tax prep and audit testing toward automation. Ready to Review targets 1040s. With CoCounsel in 1,300 firms, it processes source docs and drafts returns, raising whether review and controls become the bottleneck.
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2

ONESOURCE Plus Cuts Sales Tax Filing Time

Thomson Reuters is pushing AI into workflows accountants touch daily. ONESOURCE+ trims Sales & Use Tax prep 40–60%, Ready to Review assembles 1040s, and CoCounsel Legal bulk-reviews up to 10,000 documents, shifting tax prep toward validation even as some U.S. features arrive in early 2026.
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3

Clients Demand Real-Time AI Advisory

Clients are shifting from 'what happened?' to 'what’s next?' as AI pushes accounting beyond retrospective accuracy. Predictive tools embed cash-flow projections, tax liability estimates, and risk alerts in practice management, routing advisory work into month-end close while blurring where compliance ends and strategy begins.
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AI Applications

1. 📊 Kick Kick automates your bookkeeping workflows so your firm standardises data, reduces manual reconciliation and unlocks more capacity for high-margin advisory services.

2. 📈 Jinna.ai Jinna.ai automates meeting notes and client follow-ups so accountants reduce administrative overhead, capture actionable insights, and accelerate advisory delivery without missed details.

3. 📈 Circler Circler streamlines bookkeeping by automating receipt scanning, bank reconciliation, and invoicing, enabling small accounting firms to save time and reduce errors.

4. ⚡ Remio Remio.ai automates note‑capture and knowledge‑organisation so your firm eliminates scattered research, secures data at rest and frees team hours for high‑value advisory.

5. ⚡ JetWriter ChatGPT Writer automates email and message drafting so your firm responds faster, avoids missed client emails and fuels billable-hour capture with consistent communication.

6. 🏦 LedgerBox LedgerBox automates conversion of financial PDFs into structured accounting data so your firm cuts data-entry hours, avoids version-control chaos and improves throughput.

Updates in AI

1

Google Gemini Scans Entire Gmail History

Gemini’s Gmail integration isn’t just a reply helper; it can scan your entire inbox by default, as one tester learned when it analyzed 16 years of messages. Google’s sign-up flow for the AI Pro plan reportedly didn’t explain the scope or provide an early opt-out. That friction spotlights consent design in AI assistants—expect pressure for clearer permissions and finer-grained controls.
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2

Microsoft Secures $135B OpenAI Stake

OpenAI’s shift to a for-profit model clears a path to an IPO and locks in Microsoft as the dominant partner. Microsoft’s 27% stake is valued at $135 billion, accompanied by a cloud deal expected to generate $250 billion in revenue. For developers and enterprises, that concentration of equity and compute could accelerate product rollouts — while raising fresh questions about governance, competition, and who sets AI’s pace.
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3

Lawmakers Propose Quarterly AI Job-Impact Reporting

Congress may soon measure AI’s real labor footprint. A bipartisan bill from Sens. Mark Warner and Josh Hawley would force publicly traded firms, some large private companies, and federal agencies to file quarterly tallies of AI-related job losses, new hires, and hiring slowdowns, with Labor publishing the totals. The result could reshape workforce planning, and hinges on how "AI-related" gets defined and audited.
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Prompt Ideas

Summarize Client Cash Flow Data

**Role:** You are a professional in an accounting firm creating resources, checklists, or scripts to streamline internal operations or client communication. **Action:** Write or generate a resource related to **Summarize Client Cash Flow Data** using clear, professional, and concise formatting. **Context:** - Audience: small accounting firm teams or clients - Goal: improve consistency, clarity, and professionalism - Tone: confident, professional, and approachable - Style: markdown format with bullet points, numbered lists, and headings - Output Length: 200–400 words