Thomson Reuters launches AI version of sales and use tax compliance solution

Thomson Reuters releases ONESOURCE Sales and Use Tax AI. The company said the launch “underlines Thomson Reuters’ commitment to transforming the compliance landscape.” This solution is designed to recover time, reduce audit risk, provide ROI, and shorten internal compliance cycles. Thomson Reuters is a global content and technology company.

ONESOURCE Sales and Use Tax AI delivers tangible results from day one.

• Get your time back: Reduce time spent on routine reporting by up to 65% and free up time for tax planning, strategy, and advisory work that drives business value.
• Reduce audit risk. Early customers report up to 75% reduction in audit risk through automated verification and complete audit documentation.
• Prove your ROI instantly: Small businesses save approximately $25,000 annually in time and efficiency. Large businesses save over $60,000.
• Meet deadlines with confidence: For large companies, compliance cycles have been shortened from 30 days to 11 days, eliminating last-minute scrambles and overtime.

ONESOURCE Sales and Use Tax AI Powered by CoCounsel Implements Thomson Reuters’ Vision of Touchless Compliance. Agent AI precisely manages the heavy lifting of data import, validation, and tax return mapping. Tax professionals maintain critical oversight through final review and approval, but reduced manual intervention frees up time for higher-value work. It enables professionals in more than 19,000 U.S. jurisdictions to prepare sales and use tax returns accurately and on time in an increasingly complex and manual operating environment.

“Thomson Reuters’ corporate vision is clear: Compliance should be touchless by default, and exceptions manual. This is more than just automation. This is a fundamental rethinking of the tax function, freeing professionals to drive strategic business advantage,” said Ray Grove, head of corporate tax and trade products at Thomson Reuters. “This is a testament to our relentless pursuit of innovation, trust, and deep understanding of our customers.”

ONESOURCE Sales and Use Tax AI combines intelligent automation with the control that tax professionals need.

• User-controlled AI automation: Automated workflows handle data transfer, validation, and mapping while users maintain final review and approval.
• Instantly answer auditor questions. A complete audit trail provides transparency and documentation of all automated decisions.
• Comprehensive coverage: This solution provides access to signed official tax returns for over 1,200 U.S. states, counties, and cities.
• Files directly from the platform: Electronic filing support in 33 states and Canada eliminates the need for manual filing.
• Always up-to-date, always accessible: Cloud-based access with automatic monthly content updates ensures users are always working with the most up-to-date forms and rates.

ONESOURCE Sales and Use Tax AI serves corporate tax departments of all organizational sizes and seamlessly integrates with Thomson Reuters’ extensive indirect tax portfolio, including tax determination and calculation, certificate management, international VAT compliance, e-invoicing, and more, delivering an end-to-end solution with AI automation that gives users control from transaction to filing.

ONESOURCE Sales and Use Tax AI is part of Thomson Reuters ONESOURCE+, the only intelligent compliance network powered by Thomson Reuters’ professional-grade AI that connects tax, trade, legal and risk. Currently available to US companies and accounting firms with sales and tax obligations. For more information, please visit https://tax.thomsonreuters.com/en/corporation-solutions/c/automate-tax-returns-with-onesource-sales-and-use-tax-ai.