It’s Day 329 at Rivet, but today is just the beginning Proud to announce – we've acquired @LobbySo to power the future of AI-empowered tax prep, with Lobby's founder @WiLSONSACCOUNT joining Rivet as our founding engineer to drive our AI efforts internally Tax prep is both art and science. The art is in interpreting IRS guidance and guiding clients through their own interpretations of their financial realities. The science is a set of tasks that need to be completed to furnish a completed tax return to a client, most of which involve finding some specific string of numbers or letters, a needle in a haystack of emails, PDFs, Zoom transcripts, and Slack conversations. The art of tax preparation cannot and should not be automated. But the tedium of trawling 1000s of pages of PDFs for a specific cost basis for a secondary sale, or thumbing through a transcript for the name of a subsidiary entity mentioned once, that absolutely should be. The meat of tax preparation isn’t just converting a single W-2 or K-1 into a data packet that Drake or CCH can interpret, but knowing where to find needles in client-provided haystacks. Wilson and the rest of the Lobby team spent the last three years focused on reliably pulling specific answers from reams of unstructured data. And just in the last month of working together, we know we’ve made the right call having Wilson join the team. Personally, I’m just excited for next tax season when we can put all of his & the rest of the team’s hard work all to good use! 🥂
