The IRS has been using various technologies to improve customer service, one of which is voice bots. To date, voice bots have answered over 3 million taxpayer calls. Now taxpayers can use voice bots to verify eligibility for a payment plan and get help in setting one up (IR-2022-127). Since February, taxpayers have been able to use voice bots for answers to the advance child tax credit. Voice bots are designed to answer various taxpayer questions on its toll-free number. Expect to see expanded use of voice bots for increasingly complicated matters in the future.
An arrangement under which one person transfers legal ownership of assets to another person or corporation (the trustee) for the benefit of one or more third persons (beneficiaries).