Thomson Reuters has launched ONESOURCE Sales and Use Tax AI. The company says the launch “underscores the Thomson Reuters commitment to transforming the compliance landscape.” This solution is designed to reclaim time, reduce audit risk, provide ROI and cut internal compliance cycles. Thomson Reuters is a global content and technology company.
ONESOURCE Sales and Use Tax AI delivers measurable impact from day one:
- Reclaims time: Reduces time spent on routine reporting by up to 65% – redirecting those hours to tax planning, strategy, and advisory work that drives business value.
- Reduces audit risk: Early customers report up to 75% reduction in audit exposure through automated validation and complete audit documentation.
- Proves ROI immediately: Small enterprises save approximately $25,000 annually in time and efficiency; large enterprises save $60,000 or more.
- Meets deadlines with confidence: Cuts compliance cycles from 30 days to 11 days for large enterprises, eliminating last-minute scrambles and overtime.
Powered by CoCounsel, ONESOURCE Sales and Use Tax AI introduces the Thomson Reuters vision of “Touchless Compliance” – where agentic AI accurately manages the heavy lifting of data import, validation, and tax return mapping. Tax professionals retain crucial oversight through final review and approval, but the reduction in manual intervention frees up their time for more high-value work. Professionals across more than 19,000 U.S. jurisdictions will be ensured accurate, on-time sales and use tax returns amidst an increasingly complex and manual operational environment.
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“At Thomson Reuters, our Corporates vision is clear – compliance should be touchless by default, manual by exception. This isn’t just automation; it’s a fundamental reimagining of the tax function, freeing professionals to drive strategic business advantage,” said Ray Grove, Head of Product, Corporate Tax and Trade, Thomson Reuters. “It’s a testament to our relentless pursuit of innovation, trust, and deep customer understanding.”
ONESOURCE Sales and Use Tax AI combines intelligent automation with the control tax professionals require:
- AI automation with the user in control: The automated workflow handles data transfer, validation, and mapping while users maintain final review and sign-off.
- Answers auditor questions instantly: Complete audit trails provide transparency and documentation for every automated decision.
- Comprehensive coverage: The solution provides access to more than 1,200 U.S. state, county, and city signature-ready official returns.
- Files directly from the platform: Electronic filing support in 33 states plus Canada eliminates manual submission.
- Always current, always accessible: Cloud-based access with automatic monthly content updates ensures users are always working with the latest forms and rates.
ONESOURCE Sales and Use Tax AI serves corporate tax departments across all organizational sizes, integrating seamlessly with Thomson Reuters broader indirect tax portfolio – including tax determination and calculation, certificate management, international VAT compliance, and e-invoicing – for an end-to-end solution that incorporates AI automation with the user in control, from transaction to filing.
ONESOURCE Sales and Use Tax AI is part of Thomson Reuters ONESOURCE+, the only intelligent compliance network connecting tax, trade, legal, and risk domains, and powered by Thomson Reuters professional-grade AI. It is available now for U.S. corporations 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
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