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Accelerators
Partner Solutions
Professional Services
Collections
Tax Form 1040 Processing
by UiPath
0
Accelerator
8
Summary
Summary
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.
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
Code Language
Visual Basic
Runtime
Windows (.Net 5.0 or higher)
Technical
Version
1.0.0Updated
Oct 30, 2023Works with
Studio: 22.4+
Certification
Gold Certified
Tags
tax
document
data-extraction
DU
#Understanding
ML Model
solution accelerator
1040 Form
DU Model
Return
Filling
Credits
Income
Trained Model
Automated Process
OOTB Model
Deductions
Tax Laws
Application
UiPath Studio
UiPath Robot
UiPath Orchestrator
UiPath Document Understanding
UiPath Action Center
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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