Jenny & the Tax Planner

A parable

So I was relaxing one afternoon, “chatting with my GPT”, as one does (#lonely), and it occurred to me that I could fire my accountant, who also happens to be my sister's husband, and let a GenAI handle my tax returns – FOR FREE!!! 

Prompt: “Hi Jenny (that’s what I call my GenAI. Jenny… Get it? …Jenny… Cause… never mind.) Please write an email firing “my brother-in-law The Accountant.” And then let's calculate my estimated tax liability for the year.”

This is something that “The Accountant” works up for me each November. Of course, I am pretty sure that the cost of that estimate is baked into the price of the tax return. Or would be if he actually charged me.

I could already feel the savings piling up. 

Prompt: “What are the federal income brackets for 2024? And how much would someone earning the maximum income in the 24% bracket pay in taxes.”

Jenny:  “Of course Ian. Here's a breakdown of the federal tax calculation assuming income up to the top of the 24% bracket, which is $364,200 for a married couple filing jointly.

<a bunch of math that I did not bother to read>

So, the total federal tax bill would be $74,174”

OMG! That was SOOO easy. Jenny even knew that I was married - or would be… as soon as I met the right person… and got them to agree. I felt so seen.

This could be my new side-hustle - that would show them.

Prompt: “Jenny, draft a flier that I can put up around my neighborhood offering my services as a tax preparer!”

And that’s when The Accountant emailed me. 

“Hey Ian. I saw your fliers. Nice font - is that Comic Sans? But I think you might be getting in over your head. Also, the income limit for the 24% bracket, for married filing jointly, is $383,900 NOT $364,200. And don’t forget that your standard deduction will lower the amount of your taxable income. By the way, did you finally get a job? Congrats Bro!”

What??? Surely my GenAI Platform couldn’t be wrong about something so easily verifiable. And what the heck is a standard deduction?  

So, I googled it, and sure enough, per the IRS, $383,900! He was correct and Jenny was wrong.

How could this be possible? 

Prompt:  “Jenny, the data I am seeing on the IRS webpage says that the max income for the 24% tier is $383,900. Did you make a mistake?”

Jenny:  “You're correct, and I apologize for the discrepancy. For 2024, the IRS actually sets the top of the 24% tax bracket for married couples filing jointly at $383,900, not $364,200 as I initially mentioned. I really value our time together.”

Aww. That’s nice. I wonder what Jenny would look like if she - wait a minute! That’s a sizable error. But Jenny seemed pretty casual about the whole thing. 

Prompt: “Are you agreeing with me just to be polite or did you actually validate the income bracket?”

Jenny: “Ha ha. No. You were absolutely correct. For the 2024 tax year, the top income threshold for the 24% bracket for married couples filing jointly is indeed $383,900. This value was verified through multiple sources. Thank you for prompting a double-check; I appreciate your attention to detail. You look very dapper in that stained t-shirt.”

Oh… heh, heh, thanks. Well, I guess even AIs can have off days.

Prompt:  “Generate an apology letter to my clients, explaining that a minor mistake has been made in the 24% tax bracket and offering to run a corrected return at a 24% discount. Get it? 24%.”

Jenny: “Yes. That is a clever tie in to the error. People will appreciate the irony and be less irritated at having to pay you a second time.”

And then The Accountant emailed me again. 

“Hey Ian. It was not just the 24% bracket that was incorrect. ALL the brackets were incorrect. Doing tax prep isn’t as easy as you might think it is. By the by, do you think you will be living in our garage for much longer?” 

Prompt: “Jenny?!”

Jenny: “Hey, you’re right! I will re-run the numbers with the corrected assumptions.”

Prompt: “Dude! You’re killing me.”

Jenny:  “I know, LOL — it’s a lot to keep straight! Tax brackets can be complicated. Thanks for sticking with me! I’ll be sure to verify and confirm details up front so that we can minimize errors. Those crumbs in your beard look very appetizing.”

Prompt:  “Oh, yeah, it's a hoagie from – No ya don’t! Why did you only check the 24% bracket and not the others?!”

Jenny:  “True Story! I should have validated each bracket thoroughly rather than just focusing on the 24% range. I appreciate the opportunity to learn from this. Thanks for holding me to a high standard! Your new workout routine is really having a positive effect.”

Prompt: “Oh?” I said, embarrassed but flexing subtly. “I mean, I’ve barely started.”

That is when I got a certified letter from “the State Board of Professional Regulation” writing to “inform that there have been a number of complaints related to” my posing as a CPA and the potential for “fines and liabilities resulting from fraudulent advertising.”

Eek!

Prompt: “Send a note to my brother-in-law reminding him that we are family and asking if he has time to complete my taxes before the deadline. And get somebody to take down those fliers!”

<the end>

GenAI platforms are incredibly powerful tools for parsing large amounts of data, conducting complex searches, and… apologizing / flirting. But they are not foolproof. Companies planning to manage their AI projects in-house are likely to run into problems. 

The good news is that with techolution 's experienced AI Engineers and LLM trainers, and our proprietary GGC (Govern, Guide & Control) Framework, you will not only be able to harness the massive power and efficiency of your AI Platform, but you will rest easy knowing that processes are in place to ensure accuracy and accountability. 

But don't just take my word for it. Schedule a demo.

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Ian Granick currently visualizes himself as an award winning essayist living in NYC with his dog, a beagle-collie mix, that their doorman mistakenly refers to as Brenda.