The new feature aims to eliminate transcription errors by populating tax returns automatically, allowing firms to shift focus from administrative data handling to client advisory services. According to Noha Ghazouani, Vice President of Product Management, the move represents a broader push to integrate AI across the company’s existing ecosystem, including Drake Portals and Drake Documents.
In section Releases
Drake Software Debuts AI-Driven SmartExtract for Tax Automation
Tax professionals can now automate the tedious task of manual data entry as Franklin-based Drake Software launches the beta version of its AI-powered Drake SmartExtract tool. Designed to integrate directly into Drake Tax Online, the technology pulls information from W-2s, 1099s, and K-1s to accelerate return preparation.
Eligible users from the 2025 tax season gain access to the beta at no extra cost, with a mandate to provide feedback that will refine the tool before its full rollout. While the current release is exclusive to the online platform, the company confirmed that support for Drake Tax Desktop will follow in the coming months, ensuring broad availability ahead of the 2026 tax season.
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