iLevvy provides an AI-powered corporate tax preparation platform that automates the filing process for tax professionals. The solution, called iFile, automatically classifies financial line items, applies tax rules, generates schedules, and flags reconciliation discrepancies without requiring document reformatting. It includes role-based workflow management with up to two levels of approval for preparers, reviewers, and directors.
- Artificial Intelligence
- Financial Technology
- Regulatory & Compliance Technology
- Software Only
Funding
Funding not disclosed
Founders
Product
Problem
Corporate tax preparation is a manual, time-intensive process that requires tax professionals to reformat financial documents, map line items to tax categories, and generate schedules by hand. Existing software solutions demand rigid templates and extensive data entry, which slows down workflows and increases the risk of errors and compliance gaps.
Solution
iLevvy offers an AI-powered corporate tax solution designed specifically for tax practitioners. Its core product, iFile, accepts financial documents in their original format—including P&L statements, general ledgers, fixed asset registers, donation records, and renovation quotations—and automatically classifies line items while applying the correct tax rules. The platform generates all required tax schedules, computes tax liability, and produces previewable PDF tax computations with dynamic schedule visibility. iFile also monitors data consistency by flagging discrepancies between the general ledger and income statement, and maintains a complete audit trail of every edit and action for compliance and control.
Target Audience
Primary customers are corporate tax professionals, including tax preparers, reviewers, and directors at accounting firms and in-house tax departments, who need to streamline and automate corporate tax filing workflows.
Features
- Upload financial documents in original format with no reformatting, mapping, or template requirements
- AI-driven auto-classification of line items with automatic application of relevant tax rules
- Automatic generation of all tax schedules, including those for fixed assets, donations, and renovations
- Reconciliation alerts that flag discrepancies between general ledger and income statement data
- PDF tax computation preview with the ability to show or hide schedules and auto-updated references
- Detailed audit trail tracking every edit and action for enhanced control and compliance
- User management supporting unlimited users with role assignments for Preparer, Reviewer, and Director, including up to 2 levels of approval