TaaS - Tax as a Service

[Lee B]

"Like software-as-a-service, which distributes applications to multiple users via a cloud provider, tax-as-a-service distributes a tax platform over the internet or a smartphone. TaaS is an on-demand, 24/7 application programming interface that seamlessly integrates with a host server — a bank, for example. Using machine-learning and AI-based simulations, TaaS embeds into digital finance apps. With TaaS, people will be able to do their taxes from their phones in a matter of minutes. 

These super-apps are one of the big fintech trends, and you'll be seeing more of it in tax, too. You can order a ride or a meal with an app. You can do most of your banking on an app. So why not do taxes on an app too"

I expect this will come to dominate 1040 preparation, especially with people under 40.

[Margaret CPA in OH]

I am renewing my license for 3 more years then retiring.  I believe my client base of nearly all over 50's will want to continue with a person but agree that the under 40's would rather deal with a screen, especially a phone app.  There is a limit as to how much I want to manage on such a tiny screen.