ATL219

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Episode ATL219: AI Tax Developments – 1H 2025

Recording Date: July 21, 2025

Duration: 23:49

Hosts: Randy Johnston and Brian F. Tankersley, CPA.CITP, CGMA

Series: Accounting Technology Lab Podcast

Source: CPA Practice Advisor


Summary

In this episode, Randy Johnston and Brian Tankersley explore the rapid evolution of AI in tax software and compliance platforms during the first half of 2025. They discuss emerging AI-powered tax preparation and workpaper tools, as well as the rise of next-generation platforms like Corvi, April Tax, and Iwin, which are attracting major private equity investments to challenge established leaders such as Intuit, Thomson Reuters, and Wolters Kluwer. The hosts also analyze the growing sophistication of AI-assisted 1040 workpapers, K-1 extraction tools, and PBC automation. They compare leading innovators including BlackOre, Filed, Solomon, Magnetic, Additive.ai, and Abacus.ai, and emphasize the ethical and legal challenges of offshore AI data processing under IRC Section 7216. The episode concludes with predictions for how AI will reshape tax workflow productivity and pricing, urging firms to stay informed, cautious, and ready to adapt as automation reshapes the profession.

Key Quotes

  • “We’ve seen more innovation in the past six months of AI tax tools than in the last six years.” — Randy Johnston (00:10)
  • “Tax software is an oligopoly — but new players like Corvi, April, and Iwin are shaking things up.” — Brian F. Tankersley (03:42)
  • “The AI workpaper tools can now prepare a complete return — it’s time to start testing them.” — Randy Johnston (07:34)
  • “K-1 extraction tools are finally outperforming human accuracy — and that’s both impressive and humbling.” — Randy Johnston (17:34)
  • “You need to understand Section 7216 — improper offshore data use can end your career.” — Brian F. Tankersley (18:37)
  • “The next five years will redefine how tax prep, compliance, and advisory intersect through AI.” — Randy Johnston (22:28)

Social Media Posts

  1. AI is transforming tax prep faster than anyone expected — hear the latest in #ATL219.
  2. $100M+ investments are fueling a new generation of tax platforms: Corvi, April, and Iwin. #AITax
  3. 1040 workpapers now built by AI? Yes — and they’re getting more accurate every week. #TaxTech
  4. Meet the tools automating K-1s and PBCs: Additive, Abacus, and BlackOre. #ATL219
  5. Offshore AI processing could trigger 7216 penalties — here’s what you need to know.
  6. AI in tax isn’t the future — it’s already here. #AccountingTechnology
  7. From BlackOre to Filed — the new era of AI workpapers is starting now. #ATL219
  8. April Tax, Corvi, and Iwin are shaking up a decades-old tax software oligopoly.
  9. CCH, Thomson Reuters, and Intuit face new AI-native competition. #AITaxRevolution
  10. AI tools are preparing returns — but humans still need to verify accuracy.
  11. 7216 compliance is more important than ever in an AI-powered world. #TaxEthics
  12. K-1 extraction tools now process 150-page partnerships in minutes. #ATL219
  13. Additive.ai’s K-1 engine is redefining accuracy for high-net-worth clients.
  14. The best AI tax platforms are onshore — here’s why that matters for firms.
  15. Expect major AI announcements from Thomson Reuters and Wolters Kluwer this fall.
  16. AI training often uses offshore review — do you know where your data goes? #TaxCompliance
  17. Productivity and pricing are shifting fast — prepare for an AI-driven tax season.
  18. “If you don’t adapt, you’ll get left behind.” — hear why in #ATL219.
  19. Human oversight remains essential — AI is the intern, not the partner.
  20. Stay ahead of the AI tax wave — tune in to Accounting Technology Lab #ATL219.

Companies, Products, and Services Mentioned

Company / Product Description X (Twitter) Facebook LinkedIn Instagram
Corvi Tax (by IRIS Group) AI-enhanced tax compliance platform funded by IRIS and building a next-gen U.S. tax system N/A N/A Corvi Tax N/A
April Tax AI-based consumer and practitioner tax software startup @AprilTax April Tax April Tax N/A
Iwin AI-powered tax compliance platform with major venture funding N/A N/A Iwin Tax N/A
BlackOre AI AI workpaper platform automating data ingestion and compliance preparation N/A N/A BlackOre AI N/A
Filed.ai End-to-end AI tax automation platform for CPA firms @FiledAI N/A Filed.ai N/A
Additive.ai AI K-1 extraction and tax document interpretation platform @AdditiveAI N/A Additive.ai N/A
Abacus.ai AI tool for tax data classification and K-1 automation @AbacusAI Abacus AI Abacus AI N/A
Validis Data extraction and financial verification platform used in audits and tax preparation @Validis N/A Validis N/A
CCH / Wolters Kluwer Established tax software suite including Axcess and ProSystem fx @Wolters_Kluwer Wolters Kluwer Wolters Kluwer Tax & Accounting @wolters_kluwer
Thomson Reuters Developer of UltraTax, GoSystem RS, and AI-enhanced SurePrep Ready-to-Review @ThomsonReuters Thomson Reuters Thomson Reuters @thomsonreuters
Intuit Developer of Lacerte, ProSeries, and ProConnect Tax Online @Intuit Intuit Intuit @intuit
CPA Practice Advisor Publisher of the Accounting Technology Lab Podcast @CPAPracticeAdv CPA Practice Advisor CPA Practice Advisor @cpapracticeadvisor

See Also

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