Thomson Reuters buys San Francisco startup Additive to enhance AI-powered automation of tax workflows, including complex Schedule K-1 processing.
Thomson Reuters has announced the acquisition of Additive, a San Francisco-based startup that uses generative AI to automate tax document processing. Founded in 2023, Additive specializes in streamlining the ingestion and parsing of pass-through entity documents, including Schedule K-1 federal tax forms—among the most labor-intensive forms in tax preparation.
The deal complements Thomson Reuters’ existing tax workflow automation tools and expands its AI-driven capabilities for tax and accounting professionals.
“In a profession under mounting pressure to do more with less—amid staffing constraints, rising client expectations, and compressed filing timelines—driving greater efficiency is imperative,” said Elizabeth Beastrom, President of Tax and Accounting Professionals at Thomson Reuters. “Schedule K-1s are among the most labor-intensive forms tax professionals handle. We’re delighted to bring our customers critical K-1 ingestion capabilities with Additive to save time while maintaining high accuracy.”
Additive’s platform was designed as GenAI-native, embedding AI into the core of tax workflows. By automating repetitive data processing, the company helps professionals reclaim capacity, reduce errors, and focus on higher-value advisory services.
“From day one, our mission at Additive has been to remove the friction that keeps tax and accounting professionals from doing their best work,” said Dwight Crow, CEO and co-founder of Additive. “As part of Thomson Reuters, we can now put our AI-powered document processing capabilities in the hands of many more firms, faster.”
With this acquisition, Thomson Reuters is doubling down on its strategy to integrate generative AI into professional workflows, helping tax and accounting professionals meet growing demands with speed and confidence.