Real-time reporting and expense management are among the top ways that finance chiefs deploy artificial intelligence, according to a new survey from tax compliance software maker Avalara, which shared the results with Bloomberg Tax.

Among surveyed chief financial officers who are already leveraging AI, most report returns in areas such as forecasting, supply chain oversight, and cash-flow management, the firm found. However, issues including regulatory scrutiny, data integrity, and workforce readiness continue to hinder broader adoption, Avalara said.

CFOs plan to measure the success of implementing AI through factors like improving compliance and reducing errors, the survey showed. The results are based on a survey of 500 CFOs across the US and UK in September.

Avalara uses AI agents to automate processes including tax calculations and return filings.

Both major party candidates in New Jersey’s gubernatorial race have flawed tax policy approaches, Andrew Leahey says in his latest Technically Speaking column, arguing that Jack Ciattarelli (R)’s proposed tax cuts are reckless while Mikie Sherrill (D)’s municipal service-sharing plan lacks urgency.

Expanding the state’s earned income tax credit and child credit program would be a better option, as “these tools don’t grab headlines, but they do the heavy lifting of making life more livable,” Andrew writes. Read More