Thomson Reuters has unveiled its new 'Ready to Advise' and soon-to-be-released 'Ready to Review' AI-native Agentic Applications to transform tax and advisory workflows. 'Ready to Advise' is now available in the United States, with 'Ready to Review' launching during the fourth quarter of 2025. These two applications are built on Thomson Reuters agentic platform and powered by CoCounsel, the company's professional-grade agentic AI assistant.
Thomson Reuters, a global content and technology company, has just introduced two new AI-powered tax solutions—Ready to Advise and Ready to Review—designed to help tax and accounting professionals boost efficiency and deliver smarter, faster services to their clients. Built on the company’s advanced agentic AI platform and powered by CoCounsel, its professional-grade AI Assistant, these cloud-based tools offer end-to-end support for advisory and tax preparation workflows.
The new applications utilize agentic AI technology to automate workflows—while keeping humans in the loop—saving professionals’ time spent on manual tasks. CoCounsel’s ability to plan, reason, act, and react operates inside the workflows of tax advisory and tax preparation in Ready to Advise and Ready to Review, completing complex tasks with the security, transparency, precision, and accountability that tax and accounting professionals require.
More than three-quarters of tax, audit, and accounting firm professionals believe AI will have a high or transformational impact over the next five years, according to Thomson Reuters' 2025 Future of Professionals Report, with respondents also predicting AI will save professionals five hours weekly.
Elizabeth Beastrom, President of Tax and Accounting Professionals at Thomson Reuters, said: “The launch of Ready to Advise and Ready to Review represents a pivotal moment for our industry. Tax and accounting professionals are telling us they expect AI to save them 240 hours annually—that’s around six work weeks they can redirect toward strategic client work and advisory services.
“With talent shortages and increasing regulatory complexity challenging firms globally, these AI-native applications are competitive differentiators for our customers. We’re already seeing the industry split into two camps: those leveraging AI to expand their capabilities and increase profitability, and those falling behind. With these solutions, we’re excited to bring firms the agentic AI intelligence they need to transform routine tax preparation and advisory workflows, helping them move beyond transactional relationships to become true strategic partners for their clients.”
Ready to Advise (Now Available)
Ready to Advise is an AI-powered tax planning advisory solution designed to help tax and accounting firms grow their business in strategic advisory services. Research from Thomson Reuters shows that 75% of surveyed tax and accounting firms said their clients strongly desire more tax and business advice. Ready to Advise can support firms with meeting these client needs by automating workflows, streamlining knowledge transfer, and providing step-by-step guidance to help professionals deliver clients impactful tax strategies.
The solution synthesizes client data from tax returns to surface strategies for each client’s unique context, then provides straightforward, step-by-step guidance and supporting authoritative knowledge resources powered by CoCounsel—connecting firm content, Checkpoint, IRS code and internal documents in a single AI-guided workspace.
Minnesota-based business advisory and coaching firm Business by Design was involved in the early testing and development of the Ready to Advise application. Paul Miller, owner and founder of the firm, says: “Ready to Advise from Thomson Reuters is poised to be transformational for tax and accounting firms. It goes beyond identifying tax planning opportunities within client data—it outlines exactly how to implement those strategies. This enables firms to take a unified, scalable approach to tax advisory and clearly define who will deliver on each opportunity. By combining AI with the expertise of the advisor, we’re not replacing the human element— we’re enhancing it.”
Ready to Review (Coming 4th-Quarter)
Thomson Reuters rollout of agentic AI systems in tax, audit and accounting continues with the upcoming launch of Ready to Review. This advanced agentic AI application increases workflow efficiency in tax preparation by leveraging AI agents to automate the processing of source documents and previous tax return information, and extracting and categorizing data to produce a tax return that is ready for review by the tax professional. The solution leverages Thomson Reuters' strategic tax engine and software to support the AI agents in preparing tax returns efficiently.
Ready to Review is designed to save customers significant time during tax preparation, especially during peak periods such as tax season. Firms could channel time saved into growing their advisory practice, meaning the solution goes hand-in-hand with Ready to Advise, helping firms transform their operations to compete effectively.
Related Thomson Reuters research: 2025 Future of Professionals Report (Published June 2025), and the State of Tax Professionals 2025 (Published May 2025).
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