TaxStatus, the tax management technology provider, has rolled out two productivity tools for financial advisors and tax preparers, including a tax preparation checklist and a tax return history solution.
The tax prep checklist is a client-facing deliverable that advisors and tax professionals can share with clients to help them prepare to file their 2025 tax return. The solution is designed to identify the specific documents and information that a client needs by source and document type based on the individual’s prior tax data.
Instead of offering general instructions to find W-2s, 1099s and other tax forms, the tax prep checklist shows each specific tax document, by category, for each taxpayer that should be provided to the tax preparer by name.
The source of the underlying data is derived directly from the Internal Revenue Service through a digital consent process completed by the client.
The tax return history solution, in turn, provides a year-by-year comparison of a client’s historical 1040 tax returns, delivering each line from the IRS return transcript in a structured Excel format. The tool allows professionals to analyze trends, surface discrepancies and enhance tax planning, according to the firm.
Kevin Knull, CEO of TaxStatus, said in a statement that the tools aim to make verified IRS data more usable, more proactive and more client-friendly.
“We’re giving professionals the ability to work more efficiently, more confidently, and with less errors, while helping clients approach tax filing with less stress and uncertainty,” Knull said.
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