TaxStatus, a provider of IRS-sourced financial data for financial advisors and CPAs, announced Tuesday the general availability of TaxStatus Discovery and the TaxStatus Client Connector.
Together they give a firm a complete, continuously refreshed picture of every client’s financial life, drawn from the record the IRS already holds rather than from questionnaires, aggregator logins, and scanned PDFs, the company says.
With the launch of Discovery and Client Connector, a firm’s leadership can mine its own data: calculate wallet share precisely, household by household and account by account; see exactly where the growth in the existing client base lies; and supply each opportunity to a relationship owner as a named list, not a hunch.
“Clients should not have to know what to tell their advisor to get better advice,” TaxStatus CEO Kevin Knull, CFP, said in a statement on Nov. 10. “Every planning tool, CRM, and portfolio system on the market was built on data the client typed into a form, an aggregator pulled from a login, or an OCR analysis lifted from a PDF. Firm leaders have been setting strategy with a fraction of the information, and advisors have been advising with the same gap. This is the turning point. Executives can finally manage the book they actually have, and advisors and CPAs are empowered to deliver better advice to every client and prospect.”
According to TaxStatus, here’s how the new capabilities work:
- TaxStatus Discovery runs more than 160 discovery checks across every authorized client, organized into 11 categories spanning growth, retention, investment management, banking, tax, retirement, business owners, estate, insurance, IRS resolution, and operations. Each finding carries its metrics, methodology, and a client-level list ready to assign, and an “Ask” button takes the advisor from a book-wide number to one household’s records in the firm’s preferred AI assistant in a single click. The analysis draws on all of the data: what the client reported on tax returns, and everything that millions of employers, custodians, banks, brokerages, and other third parties report directly to the IRS about the client.
- The Client Connector, built on the open Model Context Protocol, lets compatible AI assistants, including Claude, ChatGPT and Microsoft Copilot where supported connections are enabled, ask questions of one client or the whole book, such as: “Which clients have a new IRS notice this week?” A change feed reports what moved. Every call is logged with its purpose, and firms control which tools may receive the data.
“The industry has argued for 20 years about which planning tool, which CRM, and which AI assistant is best,” Knull said. “None of it matters if the data underneath is incomplete. The firms that leverage this wealth of data will serve more of each client’s needs, gather more of each client’s assets, and give better advice than anyone who waits. It is truly a turning point.”
Discovery and the Client Connector are now available. More information can be found here.
Photo caption: TaxStatus CEO Kevin Knull (TaxStatus/LinkedIn)
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