TaxStatus announced an exclusive partnership with Advice.ai to integrate a comprehensive library of tax planning strategies into the TaxStatus Verified Financials platform, enabling financial advisors and CPAs to automatically identify personalized tax, financial, and estate planning opportunities based on official IRS-sourced data.
The collaboration combines Advice.ai’s artificial intelligence engine with TaxStatus’ verified financial dataset, which retrieves client financial information directly from IRS records with user consent. By linking AI-driven analysis to verified financial records, the companies aim to help advisors deliver more accurate planning recommendations while reducing the need for manual collection of tax documents.
According to the companies, relying solely on client-uploaded tax returns often results in incomplete datasets, with CPAs estimating that roughly 30% of clients fail to provide all relevant tax information. TaxStatus addresses this issue by accessing both what taxpayers report to the IRS and the third-party financial data reported on their behalf by employers, financial institutions, and custodians.
The combined platform analyzes financial information spanning individuals, businesses, trusts, and estates, allowing advisors to identify planning opportunities ranging from straightforward retirement contributions to more complex strategies such as 1031 exchanges, conservation easements, qualified opportunity zone investments, and grantor retained annuity trusts.
The companies said the system launches with more than 100 tax planning strategies and plans to expand the library to hundreds more. Analysis that previously required hours of manual professional review can now be completed within minutes using the integrated platform.
TaxStatus said the platform evaluates financial data across an entire household and updates strategy insights automatically as new information is received from the IRS. The system is designed to help advisors scale tax planning across their client base while focusing more time on strategy implementation and client relationships.
Early enterprise adoption includes Hightower Advisors, which has signed an agreement to deploy the platform across its national advisor network. The firm said the integration will help advisors gain a more complete view of clients’ financial situations and deliver more proactive financial planning.
TaxStatus provides IRS-sourced financial data for financial advisors, broker-dealers, CPAs, financial institutions, and fintech firms. Advice.ai develops artificial intelligence systems designed to analyze financial planning strategies using hard-coded mathematical models and tax code references.
KEY QUOTES:
“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.”
“This is the Iron Man suit for the advisor and the CPA, who I believe will always be critical in the advice process. 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.”
Kevin Knull, CEO of TaxStatus and Co-Founder of Advice.ai
“Advice.ai was purpose-built to help financial professionals scale advice and deliver actionable planning intelligence. 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.”
Brian Pierson, President and Co-Founder of Advice.ai
“At Hightower, we’re constantly looking for ways to give our advisors a meaningful edge and elevate the client experience. 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.”
Larry Restieri, CEO of Hightower Advisors
