Method and System for Digital Tax Document Exchange

A digital tax data exchange system comprising

• a schema validation subsystem to validate one or more structured data files are formatted in accordance with a universal data schema based on entity-specific data requirements, wherein the plurality of structured data files relate to K-1 producers, which are financial entities that issue schedule K-1 documents and K-1 receivers, which are persons to whom schedule K-1 documents are issued, and wherein responsive to validating the one or more structured data files, the schema validation subsystem is to generate a validation certificate that is associated with the one or more structured data files;
• a registration manager, on one or more processors, to register a plurality of legal entities as a K-1 producer and/or a K-1 receiver as registered users in a database, wherein the registration manager is to perform a digital identity validation process;
• and
• a connections subsystem, on one or more processors, to make connections between one or more K-1 producers and one or more K-1 receivers to establish access control therebetween, wherein the access control between connected K-1 producers and K-1 receivers provides data access to one or more of each other's structured data files.