TaxStatus and Advice.ai Partner to Deliver the Industry’s Most Comprehensive AI-Powered Tax Planning Strategies Built on Verified Financials

Exclusive partnership pairs the deepest library of tax planning strategies with the most comprehensive and official dataset of client financials sourced directly from the United States system of record

DALLAS--(BUSINESS WIRE)--TaxStatus, the leading provider of IRS-sourced financial data for financial advisors and CPAs, today announced an exclusive partnership with Advice.ai to bring the industry’s deepest library of tax planning strategies to the TaxStatus Verified Financials platform. The integration will enable advisors to automatically surface personalized tax, financial and estate planning opportunities and observations that generate real, measurable client value.

The partnership addresses a fundamental gap in the rapidly evolving AI-for-advice landscape: artificial intelligence is only as good as the data on which it is based. Requiring clients to manually upload tax returns is a friction-filled process that captures only client reported information. CPAs report that roughly 30% of clients fail to provide all tax information – which means that if a tax return is used solely to render advice it may result in faulty recommendations. TaxStatus delivers the single-most comprehensive and official dataset of client financials by going directly to the source: the IRS. With client consent, TaxStatus retrieves historical and future Verified Financials for each client’s entire financial household, including individuals, businesses, private investments, trusts, and estates, as well as what third parties such as employers, custodians, and financial institutions reported to the IRS on the individuals’ behalf.

Advice.ai’s proprietary artificial intelligence engine will apply its hard-coded library of tax, financial and estate planning strategies against this robust, official dataset. The result is a scalable planning capability that evaluates strategies for every client, with more robust data, no hallucinations, and with bespoke results for each client.

Until now, the tax planning standard has been a narrow review of a handful of common strategies per client typically consisting of a Roth conversion, donor advised fund, and/or qualified charitable distribution strategy. The TaxStatus and Advice.ai solution launches with over 100 strategies and a near term roadmap to add hundreds more.

Because the system utilizes all available records past, present, and future for individuals, businesses, and trusts, it can surface strategies ranging from straightforward SEP IRA contributions to highly complex 1031 exchanges, conservation easements, qualified opportunity zone investments, and GRATs. Analysis of a single complex strategy that would have required 18 or more hours of manual work is completed in minutes. Today, the platform replaces what would amount to over 1,000 hours of professional analysis per client household. And perhaps most compelling of all – is that the strategies are updated as new data is received at the IRS.

“There’s a big difference between intelligence and knowledge,” said Kevin Knull, CEO of TaxStatus and Co-Founder of Advice.ai. “You can be extremely intelligent and completely uninformed. AI has the intelligence, but without complete, verified data, it doesn’t have the knowledge it needs to surface proper opportunities. Financial advisors are well aware of this challenge, but they can only render advice based on the information they have. Advice.ai couples the knowledge – the last 10 years of tax data - with the intelligence of AI - to deliver a more bespoke and accurate toolset for the advisor and their client.”

“Advice.ai was purpose-built to help financial professionals scale advice and deliver actionable planning intelligence,” said Brian Pierson, President and Co-Founder of Advice.ai. “Our strategy library uses hard-coded math and direct tax code references — no hallucinations, no made-up scenarios. When you combine that rigor with TaxStatus’s Verified Financials, you’re not just identifying a handful of obvious strategies. You’re evaluating planning opportunities across the client’s entire financial household, automatically. We believe this will be the new industry standard.”

The Verified Data Advantage

TaxStatus is the only platform that provides both sides of the financial and tax equations: what the client reported to the IRS and what the IRS independently knows from third-party reporting. With client consent, TaxStatus retrieves income from all sources, investment accounts across all custodians, real estate holdings and mortgage data, business entities such as LLCs, S-Corps, and partnerships, trusts and estates, estimated tax payments, penalties, refunds, and IRS account activity. This eliminates the most persistent challenge in financial advice: incomplete data.

“This is the Iron Man suit for the advisor and the CPA, who I believe will always be critical in the advice process,” Knull added. “TaxStatus and Advice.ai are giving professionals the data, the analysis, and the roadmap, so they can focus on advising their clients and implementing the strategies they never had time to investigate. The ultimate winner is the client.”

The announcement is underscored by early enterprise adoption from leading wealth management firms. Hightower Advisors has signed an enterprise-level agreement with TaxStatus, becoming an early adopter of the platform to support its nationwide advisor community with verified, IRS-sourced financial data.

“At Hightower, we’re constantly looking for ways to give our advisors a meaningful edge and elevate the client experience,” said Larry Restieri, CEO of Hightower Advisors. “By partnering with TaxStatus as an early adopter, we’re enabling our advisors to have a more fulsome understanding of clients' situations — helping them deliver holistic, more proactive advice at scale.”

About TaxStatus

TaxStatus is the industry’s leading provider of IRS-sourced financial data for financial advisors, RIAs, broker-dealers, custodians, CPAs, financial institutions and fintech firms. Through its Verified Financials platform, TaxStatus retrieves official tax and financial data directly from the IRS system of record, giving professionals the most accurate and comprehensive view of their clients’ financial lives. For more information, visit taxstatus.com.

About Advice.ai

Advice.ai is the intelligence behind real advice. Its proprietary artificial intelligence engine pairs a continuously updated library of tax, financial and estate planning strategies with hard-coded mathematical models and direct tax code references to deliver fiduciary-grade planning recommendations free of hallucinations. Advice.ai is purpose-built to work with verified financial data, enabling advisors to evaluate eligible and potentially eligible strategies for every client at scale. For more information, visit Advice.ai.