K1x, a developer of AI-powered platforms for institutional tax compliance, and GruntWorx, a provider of intelligent automation for tax professionals, have announced a partnership that introduces GruntWorx K-1 ADVANCED, a new solution leveraging K1x’s patented technology to enhance tax data processing for accounting firms.
The collaboration integrates GruntWorx’s existing automation solutions with K1x’s AI-powered technology to streamline the extraction, validation, and delivery of complex K-1s. This aims to reduce manual data entry and free up tax professionals for more strategic tasks.
GruntWorx K-1 ADVANCED is designed as an end-to-end solution, allowing GruntWorx customers to expand their K-1 processing capabilities. The product offers automation that addresses the entire workflow from intake to insights, including advanced K-1 aggregation and the ability to read beyond the face page to incorporate state and international data, whitepapers, and footnotes.
Julie Pierce, Vice President and General Manager of GruntWorx, stated that the partnership enables the company to offer an innovative solution addressing the evolving needs of their customers. GruntWorx plans to debut the solution in an upcoming joint seminar with K1x.
According to Ken Powell, K1x CRO, the partnership delivers next-generation automation to accounting professionals. He noted that GruntWorx K-1 ADVANCED combines the strengths of both companies to help firms operate more efficiently and with increased confidence.
The new offering aims to unlock growth opportunities for firms by saving time and minimizing errors, thereby facilitating improved client service. K1x specializes in automating the extraction, validation, and distribution of tax data from K-1s, K-3s, and 1099s, also streamlining IRS-certified 990 e-filings. GruntWorx provides intelligent tools for document organization, data entry, and workflow management for tax preparation.
