Wealth software firm TaxStatus now sells two tools built on live IRS tax files. WealthManagement.com reports that TaxStatus Discovery and Client Connector pull client books directly. Advisors run AI checks without chasing PDFs or logins.
Once a client signs consent, the firm sees a clear map of IRAs, banks, home loans, and crypto trades on file with the IRS.
Key Takeaways: TaxStatus Discovery & MCP Connector
- 160+ Automated Book Checks: TaxStatus Discovery scans each consenting household across 11 areas, including tax, retirement, estate, banking, and retention.
- MCP AI Bridge: Client Connector uses the open Model Context Protocol so Claude, ChatGPT, and Microsoft Copilot can query authorized IRS files with full logging.
- Wallet-Share Sizing: Firms can spot accounts held at rival institutions, with TaxStatus claiming firms uncover over 2.5 times more assets than they manage.
- Clear Pricing Tier: Subscriptions start at $10,000 per year or $1,000 per month (one-year term) covering 240 households, plus $48 per extra household.
Replacing Missing PDFs With Live IRS Records
Advisors lose hours waiting on old scans or dead account links. TaxStatus skips that step. It pulls fresh IRS forms once a household says yes.
Starting in tax year 2025, crypto brokers file Form 1099-DA with the IRS too. Discovery scans those feeds and flags top topics ranked by cash value and filing dates.
| Capability or Spec | Details Reported | Claim Basis |
|---|---|---|
| Audit Scope | 160+ checks across 11 advisor categories | Product launch specification |
| Tech Map Field Coverage | Populates 72% of fields across 447 Kitces tools | TaxStatus internal review |
| Hidden Asset Rate | 2.5x+ more assets spotted than firm manages | TaxStatus user estimate |
| Base Price | $10,000/yr or $1,000/mo (240 households; $48/extra) | Published pricing page |
The tool spots tax-free Roth move gaps and missing 1099-DA crypto forms. It can also catch Medicare fee cuts worth about $5,000 a year.
How Client Connector Links AI Assistants
TaxStatus built Client Connector on the open Model Context Protocol (MCP) to speed up search. Staff hit an “Ask” button inside Discovery to search one home or a full firm via Claude, ChatGPT, or Microsoft Copilot.
Firms pick which AI tools may run queries, and each check leaves an audit log. Other data firms now use MCP links too, as seen when FreightWaves SONAR added 24 live freight tools via MCP.
“The industry has argued for 20 years about which planning tool, which CRM and which AI assistant is best,” CEO Kevin Knull said in a press release. “None of it matters if the data underneath is incomplete.”
Pricing and Firm Adoption Limits
TaxStatus posts clear prices on its site instead of hiding behind sales calls. Firms pay $10,000 a year for 240 households, or $1,000 a month on an annual plan, plus $48 per extra household. The launch follows its September 2026 Industry Disruptor win at the Wealth Management Industry Awards.
Even with clear pricing, wide rollouts take time. Many advisory shops want strict legal sign-off before letting outside AI tools read tax files. Legal checks also paced staff rollouts in our look at Gilbert + Tobin reaching 87% ChatGPT staff use and wider tech shifts in our AI stock swing report.
Frequently Asked Questions
Where does TaxStatus pull client financial data from?
TaxStatus pulls authorized records straight from the IRS, capturing IRAs, bank accounts, brokerage statements, mortgages, and 1099-DA crypto sales.
Which AI assistants work with TaxStatus Client Connector?
Built on the Model Context Protocol, Client Connector supports Claude, ChatGPT, and Microsoft Copilot where enabled by the advisory firm.
How much does TaxStatus cost for an advisory firm?
Published pricing is $10,000 a year or $1,000 a month on a one-year term, covering up to 240 households at $48 per additional household.
Are client AI queries tracked for compliance?
Yes. Every call through Client Connector is logged, and firms decide which connected AI tools can read authorized IRS records.
