TaxStatus Launches Planning Observations, Turning Millions of Tax Records Into Actionable Planning Opportunities

The new capability automatically surfaces advice opportunities and advice gaps across six advisory disciplines, potentially saving financial advisors and CPAs hundreds of hours of manual analysis per client, all without the use of AI

DALLAS--(BUSINESS WIRE)--TaxStatus, the leading provider of IRS-sourced financial data for financial advisors and CPAs, today announced Planning Observations, a new capability that automatically identifies timely advice opportunities and advice gaps from a client’s own tax records. Planning Observations transform raw IRS data and information returns into a prioritized, client-ready roadmap of planning conversations - work that has traditionally required hours of line-by-line manual review for every client and prospect.

Planning Observations power the company’s redesigned Financial Baseline report, a consolidated, client-facing deliverable that compiles a household’s complete financial picture and flags the items that warrant a conversation with their advisory team — all drawn directly from source documents such as IRS data and Forms 1099, W-2, 1065, 1120, 5498, K-1, and more.

By automating the discovery step, Planning Observations lets advisors and CPAs:

• Reclaim hundreds of hours otherwise spent on manual analysis across their book of business.
• Surface advice opportunities proactively — including time-sensitive items tied to recent life events — rather than discovering them after a deadline has passed.
• Close advice gaps by systematically catching the planning issues that manual review routinely misses.
• Improve the quality and consistency of advice with a standardized, discipline-by-discipline review applied equally to every client and prospect.
• Win and deepen relationships by walking into every meeting with a data-backed agenda drawn from the client’s actual records.

The advice gap hiding in plain sight

Financial advisors and CPAs already hold the data that points to their clients’ most valuable planning moments - a Roth conversion window, an overlooked education credit, an estate exposure, an early retirement-plan withdrawal signaling distress, or quarterly estimates that are chronically over- or under-funded. The problem is volume. Spotting those moments across an entire book of clients and prospects means reading thousands of pages of transcripts and returns, one document at a time. Most opportunities are simply never found, and the advice gap goes unaddressed.

Planning Observations close that gap by doing the reading. The capability evaluates each client’s records against more than 175 distinct observations across six advisory disciplines - financial planning, investment management, tax planning, estate planning, insurance, and banking and lending - and detects nearly 50 multi-year life events, from a job change, business sale, or home purchase to retirement, inheritance, or the onset of long-term care. Each observation is mapped to a specific, defensible advice opportunity the professional can act on.

A massive efficiency play

“Planning Observations do in moments what used to take a team days or weeks per household,” said Kevin Knull, CFP®, CEO of TaxStatus. “We’re not replacing the advisor’s judgment — we’re handing them an efficient analysis so they can spend their time advising clients instead of hunting through data. For a firm with hundreds of clients, that’s thousands of hours given back, and a measurable lift in the quality and timeliness of the advice they deliver.”

Built on domain knowledge and real tax data — not artificial intelligence

Critically, Planning Observations use no artificial intelligence. Every observation is the product of deterministic, rules-based logic engineered from deep tax and financial-planning domain expertise and validated against the millions of real tax records TaxStatus has on file. Because the logic is rules-based and explainable rather than generative, every observation is transparent, repeatable, and traceable to the specific data that triggered it — giving professionals results they can stand behind with clients and regulators alike.

“This is only possible because of a combination of two things competitors don’t have: deep, hard-won domain knowledge across advisory disciplines, and millions of actual tax records to build and validate against,” added Knull. “That combination is what lets us deliver precision without guesswork — and without AI.”

Planning Observations and the new Financial Baseline report are available now to TaxStatus users. To learn more or request a demonstration, visit www.taxstatus.com.

About TaxStatus, Inc.

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.