New research from Thomson Reuters shows a seismic shift in attitudes towards GenAI among tax and accounting professionals, with 71% now believing the technology should be applied to their daily work, up from 52% in 2024.
The 2025 Generative AI in Professional Services Report found the percentage of tax firms already implementing GenAI technology has nearly tripled year-over-year, jumping from 8% in 2024 to 21% in 2025. An additional 25% of firms also report they are now planning to incorporate GenAI into their operations.
The research signals that 79% of tax and accounting firms expect significant GenAI integration by 2027, including:
- 13% indicating GenAI is already central to their organization’s workflow
- 32% expecting full integration within one year
- 34% anticipating GenAI becoming central to operations within 1-2 years
The data shows clients are, increasingly, becoming a substantial driving force behind GenAI adoption and requesting its use – 77% of clients from corporate businesses are looking to the tax firms working for them to use GenAI. Additionally, 14% have also instructed tax firms to use GenAI in their official tendering document (RFP) compared to 8% of those who have instructed law firms to do the same.
Elizabeth Beastrom, President of Tax & Accounting Professionals at Thomson Reuters, says: “What we’re witnessing is a transformation in how tax, audit and accounting professionals view AI technology. This surge in adoption positions the accounting profession as one of the fastest-growing industries for GenAI acceptance among professional services. The data clearly shows that initial skepticism is rapidly giving way to recognition of GenAI’s potential to enhance productivity and client service delivery. Firms that aren’t making the best use of GenAI for their accountancy and tax work risk falling behind their peers in terms of efficiency.”
The most common use cases of GenAI by tax and accounting professionals are:
- Tax research (77%)
- Tax return preparation (63%)
- Tax advisory (62%)
- Accounting / bookkeeping (57%)
- Document summarization (55%)
Of the firms using GenAI in their work, almost half (44%) are using the tools either multiple times a day, or daily.
Job security concerns minimal
Despite rapid adoption, only 9% of tax, accounting, and audit professionals view GenAI as a threat to industry jobs. A majority (54%) see minimal or no threat to employment, suggesting professionals increasingly view the technology as complementary rather than competitive to human expertise.
Policy gaps
The study highlights significant gaps in organizational readiness, with 70% of tax and accounting firms reporting they have no formal policies governing GenAI use. This lack of governance frameworks presents potential risks as implementation accelerates.
Beastrom adds: “The data presents both tremendous opportunities and important challenges for the tax profession. While adoption is accelerating rapidly, the lack of governance frameworks suggests firms need comprehensive strategies to maximize GenAI’s benefits while managing associated risks.”
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Tags: Income Taxes, Taxes, Technology
