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IRS Form 1040 Processing Automation

Automate data extraction from IRS Tax Returns with 99%+ accuracy

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Save hundreds of hours with intelligent IRS Tax Returns data capture
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Verify borrower incomes, taxes, etc. easily with minimal human effort
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Increase loan originations with speedier underwriting
No credit card required
Intelligently Read 1040 Tax Forms
Docsumo is an excellent data capture tool with easy integration.
Using Docsumo, we are capturing data from more than 5 document types with hundreds of variations. The biggest advantage with Docsumo is that it can be integrated easily with other tools. All our data security issues are addressed - we’re happy to take this partnership forward.
Head of Product
Enterprise Risk Management Company,
Virginia, USA
Import and Export Data in various formats
Readymade APIs for auto-classification of IRS Tax Return

Auto-classify IRS Tax Returns in bulk instantly with readymade APIs

Get our readymade IRS Form APIs to analyze, auto-classify, and parse tax forms submitted by your applicants, including PDFs and scans. Ingest forms instantly from emails and pre-process them for field extraction.
Automatic Classification of Tax Forms
Smarter lending decisions with 99%+ accurate data

Make smarter lending decisions with accurate borrower data

Docusmo's robust document AI lets you extract incomes from IRS Tax returns and verify it against bank statements, pay stubs or even against a database. Use our intuitive review screen to help you see low confidence output and manually correct it. Or, use Excel-like formulae to calculate standard deductions, adjustments and taxable incomes.
Extracting data from tax forms

5 Reasons to get the Docsumo Advantage Now!

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Reduce turnaround time for document processing from days and months to seconds
10x
Increase efficiency by 10X even as you process 10k+ documents a month
99% plus
Reduce manual and repetitive errors with intelligent automation and get accurate data from documents
Smart AI
Algorithms that self-learn based on new document formats and on the go or from manual corrections
Analytics
Make rapid decisions with easy validation and granular analytics
Automation with human-in-the-loop

Power up your lending/
underwriting
decisions workflows

Loan officers spend hours manually verifying borrower incomes and often end up with errors. Instead, Docsumo's intelligent document processing alerts them of errors and exceptions so they may intervene only when needed. Moreover, our intelligent API learns with every correction you make on your forms and tax return so you don't have to re-check it in the future.
Form Upload & Accuracy data
Seamless integration

Convert IRS Tax Returns into Excel easily

Extract field-level data into your favorite document formats like CSV, MS Excel or JSON with our machine learning models. You're now ready to process tax forms into your database, CRMs or loan origination software.
Import form data into Excel

Say goodbye to manual tax data processing

Get 95%+ touchless processing for IRS Tax Returns. Extract all data fields you need for your underwriting decisions in minutes.
General information
Filing status
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Social security number
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Standard deduction
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Healthcare coverage
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Address
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Income Details
Dependent information
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Wages, salaries, tips
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Pensions and annuities
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Capital gain or loss
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Adjustments to income
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Standard deduction
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Tax Details
Self-employed Tax
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Child Tax Credit
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Earned Income Credit (EIC)
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Routing Number
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Learn how an enterprise risk management firm achieved 99%+ field-level accuracy with automated financial statement processing

The Situation
Our client, an enterprise risk management firm, had to manually populate financial models from 5 different document types sent by >500 applicants every month. Their in-house automation efforts hadn't yielded positive results.
Solution
Our intelligent algorithms helped them adapt to all the variations in these documents with minimal training. We helped them integrate with their existing software and pushed data with their matching schema similar to their financial models. Moreover, Docsumo's SOC 2 - TYPE II certification exceeded their security expectations.
Intelligently Read 1040 Tax Forms
99%+
Field-level accuracy
90%
Touchless processing using smart validation rules
70%
Processing cost reduced byautomating workflow end to end
Ready to automate your data extraction?
Let's talk.
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Docsumo's intelligent document processing enables you to extract data easily, efficiently, and accurately.
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G2 & Capterra Ratings for Docsumo