TaxStatus Unveils IRS Data Tools to Map Client Assets Held Away

The Discovery and Client Connector products run 160 checks across client tax records to identify growth opportunities and calculate wallet share by household.

By the Family Office Real Estate Daily Desk·Thursday, November 12, 2026·2 min read

Editorial summary of reporting byWealthManagement.com Our editorial standards →

The answer · checked against WealthManagement.com

What are the TaxStatus Discovery and Client Connector tools and how do they help advisors find assets held away?

TaxStatus announced general availability of its Discovery and Client Connector tools on November 11, 2026, pulling data directly from IRS records to give advisory firms a continuously refreshed view of client finances. Discovery runs more than 160 checks across 11 categories per authorized client, while TaxStatus said most firms using its platform identify more than 2.5 times as many assets and accounts as they currently manage.

Key facts

TaxStatus announced general availability of its Discovery and Client Connector tools on November 11, 2026, according to the company.
TaxStatus Discovery runs more than 160 checks across every authorized client, organized into 11 categories including growth, retention, investment management, banking, tax, retirement, business owners, estate, insurance, IRS resolution and operations, according to TaxStatus.
TaxStatus said its analysis of 447 products on the Kitces AdvisorTech Map found it can populate 72% of the client financial fields those products use.
TaxStatus said most firms using its platform identify more than 2.5 times as many assets and accounts as they currently manage.
TaxStatus Client Connector is built on the open Model Context Protocol and lets compatible AI assistants, including Claude, ChatGPT and Microsoft Copilot, query data on individual clients or an entire book, according to the company.
TaxStatus pricing is $10,000 per year or $1,000 per month for a one-year commitment, supporting up to 240 households, with additional households at $48 each, according to the company.

TaxStatus Unveils IRS Data Tools to Map Client Assets Held Away — Image: editorial illustration · Story sourced from WealthManagement.com

TaxStatus, a provider of IRS-sourced financial data, released its Discovery and Client Connector tools to give advisory firms a continuously refreshed view of clients' financial lives drawn directly from IRS records. The two products are meant to replace reliance on client questionnaires, aggregator logins and scanned PDFs, the company said.

TaxStatus Discovery runs more than 160 checks across every authorized client, organized into 11 categories including growth, retention, investment management, banking, tax, retirement, business owners, estate, insurance, IRS resolution and operations. Each finding includes metrics, methodology and a client-level list, with an Ask feature linking advisors to a household's records through a firm's AI assistant.

The Client Connector, built on the open Model Context Protocol, lets compatible AI assistants including Claude, ChatGPT and Microsoft Copilot query data on individual clients or an entire book where firms have enabled such connections. Every call is logged, and firms control which tools receive data, TaxStatus said.

The company said its analysis of 447 products on the Kitces AdvisorTech Map found it can populate 72 percent of the client financial fields those products use. When client-authorized IRS data has been enabled, firms can measure organic growth opportunities within their existing client base more precisely than previously possible, TaxStatus said.

Every IRA, income-producing bank and brokerage account, workplace plan, mortgage and, starting in tax year 2025, every digital-asset sale through a broker is reported to the IRS by name and account number, the company said. The Discovery tool uses those forms to build a household-by-institution inventory of a firm's entire book. Once a firm identifies its own custodians, it can calculate a wallet-share figure for each household, including the value of assets held elsewhere and by whom.

Most firms using the platform identify more than 2.5 times as many assets and accounts as they currently manage, TaxStatus said. The same data can prepare advisors ahead of client meetings, generating discussion points ranked by dollars at stake, deadline and irreversibility. Examples cited by the company include a Roth conversion window tied to a zero federal tax bill, a Medicare premium adjustment that could save about $5,000 a year, and digital-asset proceeds reported on a 1099-DA that were omitted from a tax return.

Kevin Knull, the CEO of TaxStatus, said the launch allows firm leaders to calculate wallet share by household and account, identify growth opportunities within an existing client base, and assign named lists of opportunities to relationship owners rather than relying on guesswork. TaxStatus provides transparent pricing on its website and costs $10,000 per year or $1,000 per month for a one-year commitment, supporting up to 240 households and $48 per additional household.

The Deployment Angle

Family Office Real Estate Daily Desk · our analysis, not the source's

Family offices that custody assets across multiple platforms can use IRS-sourced data to map the full household balance sheet without asking clients to log in to aggregators or hand over statements. The Discovery tool's 160-check audit across 11 categories gives principals a quarterly snapshot of what the office holds, what sits elsewhere, and which opportunities carry the largest dollar stakes or nearest deadlines.

The wallet-share calculation is the most actionable output. If a household reports $8 million in brokerage accounts to the IRS but the office manages $3 million, the shortfall is $5 million held at named custodians. That figure tells a principal whether to negotiate consolidated custody terms, build a separate account with the outside manager, or accept that the client wants diversification and focus on the $3 million already onboarded.

The Client Connector's Model Context Protocol integration matters for offices that run their own AI assistants or use Claude, ChatGPT or Microsoft Copilot in client-service workflows. Logged queries and firm-controlled data access reduce the risk that an assistant hallucinates account details or surfaces the wrong household's tax forms. The Ask feature is useful if the office employs multiple relationship managers who need to pull records without disturbing the principal.

Pricing at $10,000 per year for 240 households, or roughly $42 per household, makes sense for a 50-household office that values time saved on data entry and questionnaire follow-up. The tool pays for itself if it uncovers one $2 million rollover or prevents one Medicare premium surcharge by flagging a Roth conversion window before year-end. Offices with fewer than 30 households should negotiate a per-seat rate rather than pay for unused capacity.

Questions this story answers

01What does the TaxStatus Discovery tool actually do for an advisory firm?

According to TaxStatus, Discovery runs more than 160 checks across every authorized client, organized into 11 categories including growth, retention, investment management, banking, tax, retirement, business owners, estate, insurance, IRS resolution and operations. Each finding includes metrics, methodology and a client-level list. TaxStatus CEO Kevin Knull said it allows firm leaders to calculate wallet share by household and account and assign named opportunity lists to relationship owners.

02How does TaxStatus identify assets held away at other custodians?

According to TaxStatus, every IRA, income-producing bank and brokerage account, workplace plan, mortgage and, starting in tax year 2025, every digital-asset sale through a broker is reported to the IRS by name and account number. Discovery uses those forms to build a household-by-institution inventory. Once a firm identifies its own custodians, it can calculate a wallet-share figure for each household, including the value of assets held elsewhere and by whom.

03Which AI assistants are compatible with TaxStatus Client Connector?

TaxStatus said Client Connector, built on the open Model Context Protocol, lets compatible AI assistants including Claude, ChatGPT and Microsoft Copilot query data on individual clients or an entire book, where firms have enabled such supported connections. Every call is logged, and firms control which tools receive data, according to the company.

04What does TaxStatus cost and how many households does the base subscription cover?

According to TaxStatus, the subscription costs $10,000 per year or $1,000 per month on a one-year commitment. The base subscription supports up to 240 households, and additional households are priced at $48 each.

05What specific planning opportunities can TaxStatus surface ahead of client meetings?

According to TaxStatus, the data can prepare advisors ahead of client meetings by generating discussion points ranked by dollars at stake, deadline and irreversibility. Examples cited by the company include a Roth conversion window tied to a zero federal tax bill, a Medicare premium adjustment that could save about $5,000 a year, and digital-asset proceeds reported on a 1099-DA that were omitted from a tax return.

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Original reporting

WealthManagement.com

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