Thomson Reuters CoCounsel

CoCounsel Tax is Thomson Reuters' bid to put a generative AI layer on top of the research content and software it already sells to tax firms. For a practice already on Checkpoint, the question is less whether it works than whether the added cost earns its place against cheaper AI research tools.

What it does well. The content is the advantage. Answers draw on Checkpoint, the Code and government sources, with citations, which is a stronger foundation than tools relying on general web material, and the ability to combine that content with a firm's own documents in one workspace is practical. Document analysis that flags carryforwards, limitations and inconsistencies across K-1s and workpapers is useful at review stage. The agentic templates for multi-step tasks and the Essentials edition for smaller firms show Thomson Reuters is trying to reach beyond its large-firm base. Its sister products, Ready to Review and Ready to Advise, give a path to AI preparation and planning from one vendor.

Where it falls short. Pricing is not published and is typically tied to wider Thomson Reuters licences, so smaller firms may find it expensive relative to standalone rivals. The product page does not name integrations beyond Checkpoint, so firms should confirm what connects to UltraTax or their other systems. The 32% time-saving figure comes from a self-reported survey that the company itself labels unverified. Naming across the CoCounsel family is confusing, with Tax, Audit and Accounting products presented in overlapping ways. It is US-focused and does not cover UK tax. Any trial should test it on the firm's own hardest research questions and check every citation it returns.

Best for. US firms already invested in Checkpoint and Thomson Reuters software that want AI research and drafting grounded in content they trust. Smaller firms without Checkpoint should compare TaxGPT, which offers cited research and return review as a standalone subscription, before committing.

Verdict. A strong research and drafting assistant for Thomson Reuters customers, built on trusted content, but its value depends heavily on existing Checkpoint use and a price the firm must negotiate.