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Tax Form 1040 Processing
by UiPath
0
Accelerator
<100
Benefits
120
hours
Reduced development time*
90%
Optimized productivity
90%
Enhanced accuracy
Summary
Summary
This accelerator is an out-of-the-box ML model for seamless 1040 tax form processing, retrieval, and validation.
Overview
Overview
The IRS Tax Form 1040 is the primary document used by U.S. individuals to report their annual income and determine owed taxes or refunds. It captures various income sources, offers deductions and credits, and is periodically updated to reflect changes in tax law.
This accelerator processes the 1040 form and is equipped with the UiPath Document Understanding skill that can extract up to 58 commonly occurring data points from Form 1040 based on the tax year 2021. It's a ready-to-use, pretrained ML model. It sources 1040 documents from a data repository, digitizes, categorizes, and extracts their details before conducting business rule validations.
The Document Understanding Solution Accelerators come equipped with Specialized AI models tailored to particular document types. If a business wishes to refine these models to resonate more closely with a particular document variant in their unique operational context, the models can be further trained. With the groundwork firmly in place, the implementation time can be reduced by weeks.
The use of UiPath Document Understanding Models utilizes UiPath AI Units.
Features
Features
The skill is trained to automatically detect data such as:
- Name, Address, Phone, SSN of the Taxpayer/Spouse;
- Income Sources and Total Taxable Income;
- Dependencies, Designee, Paid Preparer, Signatures.
Additional Information
Additional Information
Dependencies
• UiPath.DocumentUnderstanding.ML.Activities: [1.17.0] • UiPath.IntelligentOCR.Activities: [6.5.0] • UiPath.Mail.Activities: [1.18.2] • UiPath.Persistence.Activities: [1.4.2] • UiPath.SolutionAccelerators.Reusables.Generic: [1.1.0] • UiPath.UIAutomation.Activities: [22.4.7]
Code Language
Visual Basic
Runtime
Windows (.Net 5.0 or higher)
* Learn more about how the benefits are calculated. Click here.
Technical
Version
1.0.1Updated
March 19, 2024Works with
Studio: 22.4+
Certification
Gold Certified
Tags
Application
Support
Link: https://marketplace.uipath.com/contact-usSupport on Demand is available only to UiPath Enterprise customers. To access this type of support, you need to have an active UiPath license. More details are available here: https://docs.uipath.com/marketplace/automation-cloud/latest/user-guide/support-on-demand. Note: Marketplace Support On Demand is not subject to a response SLA, but one should expect a response within two business days.
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