The new tools, Tax Prep Checklist and Tax Return History are available now for advisors and tax professionals

TaxStatus, a secure, personalized data solution for verified financials used by financial professionals and their clients, today announced the launch of two new productivity tools designed to help financial advisors, accountants, and tax preparers improve accuracy, efficiency, and client readiness ahead of the 2025 filing season.

The TaxStatus 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. What differentiates this new solution from existing checklists is that it clearly identifies the specific documents and information a client needs by source and document type based on the individual’s prior tax data so that the taxpayer doesn’t have to try to identify what is needed. Instead of the typical 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 CPA by name.

The checklist also gives advisors a timely reason to secure client consent in January, creating a smooth and positive Q1 client touchpoint while helping clients feel more prepared and supported throughout tax season. The source of the data is derived directly from the IRS through a digital consent process by the client which takes less than a minute to complete. Download a sample here.

Tax Return History provides a year-by-year comparison of a client’s historical 1040 tax returns, delivering every line from the IRS return transcript in a structured Excel format. The tool allows professionals to quickly analyze trends, surface discrepancies, enhance tax planning, and dive deep into tax data with the click of a button.

“Our goal is to make verified IRS data more usable, more proactive, and more client-friendly,” said Kevin Knull, CEO of TaxStatus. “With the Tax Prep Checklist and Tax Return History tools, 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.”

To learn more about TaxStatus, visit www.taxstatus.com.

ABOUT TAXSTATUS

TaxStatus is a fintech innovator revolutionizing financial services through frictionless access to IRS-Verified Financial data and continuous IRS account monitoring. Designed for financial professionals and their clients, TaxStatus enables consent-based access to individual, business, and trust tax records, eliminating traditional barriers to tax and financial planning. The product solves three important problems for financial advisors: eliminating the friction in obtaining tax data, providing continuous IRS account monitoring, and providing insights and data necessary to provide improved tax and financial planning recommendations. The result is a complete and accurate financial picture for any taxpayer, which ultimately helps advisors deliver better financial plans, better advice, and better client outcomes. Discover how TaxStatus is transforming financial planning at www.TaxStatus.com.

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"With the Tax Prep Checklist & Tax Return History tools, 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.” --CEO Kevin Knull