Tax compliance involves processing long, winded form tax documents such annual tax reports and partnership documentation like K-1 forms. These documents can be numerous and varied and require more technology than simple RPA solutions.
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Tax compliance is ongoing burden held by accountants and companies that are required to complete quarterly and annual reporting. These documents can contain structured and unstructured information such as the notes section which often contain valuable information. Manual processes eat up expensive resources and rules-based technologies often don't get the job done.
Leverton’s AI extraction software learns as it processes – handling even the most nuanced tax and compliance matters. Leverton extracts data from K-1 partnership documents along with other international tax forms to provide a holistic solution for getting data out of tax contracts.
Leverton provided automated extraction of key data points from complex K-1 partnership tax documents, including the notes pages, for several leading accounting firms in the United States. The process minimized the extraction times from 1-2 hours per K-1 down to 10 to 20 minutes including human review efforts. The ROI provided for the clients allowed them to get through tax season much faster and at a lower total cost of ownership.
Why use Leverton AI?
Tax compliant data extraction
Agility and management of complex, nuanced information
Custom reporting and integrations to 3rd party solutions