Fintech company K1x announced on July 1 the launch of Aggregator Plus, a new product upgrade that adds automated Form 1099 data extraction to its artificial intelligence-powered K1 Aggregator tax platform.
The Morristown, NJ-based company said this enhancement addresses the growing complexity of tax document processing, with more than 40 million Schedule K-1s and an estimated 44 million Form 1099-Ks filed annually.
Built as an optional upgrade to K1 Aggregator, K1x says Aggregator Plus provides tax professionals with a unified solution for processing complex investor tax documents across multiple entities and asset classes. The extension is purpose-built for the needs of accounting firms, alternative investment funds, and family offices, where fragmented tax workflows and tight deadlines often increase costs and audit risks, the company says.
“K1 Aggregator stands alone in its ability to address the needs of overworked tax professionals facing unsustainable K-1 volume and complexity,” K1x CEO John LaMancuso said in a statement. “Now, with 1099 automation in Aggregator Plus, we’re removing even more manual processing burdens from tax teams so they can redeploy those same hours on growth opportunities for their own organizations.”
Key features of Aggregator Plus include:
- Patented AI-powered data extraction for both Schedule K-1 and Form 1099.
- 100% digitization of key tax elements with executive summary views.
- Aggregation and reporting across federal, state, and international requirements.
- Seamless integration into existing K1 Aggregator workflows.
- Optional upgrade to existing subscription—no separate implementation required.
K1x says its solutions are used by more than 8,000 organizations, including 44 of the 100 largest institutional investors, 20 of the top 25 accounting firms, and 45 of the top 100 university endowments.
Aggregator Plus will be available to Early Access Program (EAP) participants in June 2025, with general availability in July, K1x says.
More information about Aggregator Plus can be found here.
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Tags: Accounting, Form 1099, Small Business, Taxes, Technology
