• Accrual launched today as a tax preparation and review platform for accounting firms.
• The company announced $75 million in funding at launch.
• Its AI-driven system already supports every federal and state tax form and can consume unstructured data to fill returns.

What launched

Accrual, a new tax preparation and review platform aimed at accounting firms, launched today with $75 million in funding. The company says its product delivers AI automation across the full range of filings — including every federal and state tax form — and is built to ingest unstructured data to populate returns.

How the platform works (at a high level)

Accrual positions itself as an end-to-end tool for tax teams: preparing returns, automating repetitive data entry, and supporting the review process. Key to the platform is AI that connects data inputs to the correct forms and fields. The company highlights that its system already covers the entire spectrum of federal and state forms, removing the need for firms to switch tools when handling different jurisdictions or complex return types.

Why it matters to firms

This launch underscores two trends in professional tax services: broadening use of AI to reduce manual work, and the consolidation of multiple preparation tasks into single platforms. For firms, the practical upsides could include faster return preparation cycles, fewer routine errors, and less time spent on formatting and data wrangling.

At the same time, the breadth of form coverage and the promise to handle unstructured data means firms that run manual processes — sifting PDFs, statements, or other files to extract numbers — may face competitive pressure to adopt automated solutions or risk falling behind peers that gain efficiency advantages.

Potential impacts and considerations

  • Workflow disruption: Firms will need to evaluate how Accrual integrates with existing tax software, client portals, and review workflows. Smooth integration will determine how quickly teams can capture efficiency gains.
  • Quality and review: Automation can cut routine work, but firms must maintain robust review controls to catch edge cases and ensure tax positions are correct.
  • Data handling: The ability to consume unstructured data is a major claim; firms should verify how the platform manages sources, accuracy, and security for sensitive tax information.

What firms should do next

Accounting firms should request demos, run pilots on non-critical workloads, and compare Accrual’s coverage and accuracy against current tools. Evaluate integration options, security controls, and reviewer workflows before broad adoption. Early pilots will show whether the platform genuinely reduces manual entry and shortens review cycles without introducing new compliance risks.

Accrual’s launch—with $75 million in backing and broad claims about form coverage and unstructured-data support—signals a shift toward more comprehensive, AI-driven tax tooling for firms. Whether it becomes a de facto choice will depend on real-world performance, integration, and the safeguards firms require for tax accuracy.

Image Referance: https://www.accountingtoday.com/news/tax-platform-accrual-launches-with-ai-automation-support-for-all-forms