A drywall taper is provided for applying drywall compound and tape to a wallboard joint. The drywall taper has an applicator head mounted on one end of a drywall compound storage device having a movable plunger with a drywall compound flow path extending from an opposite end of the storage device to an outlet on the applicator head. A pressurized air arrangement is provided for pushing the plunger and delivering drywall compound through the drywall compound flow path. An actuating arrangement is slidably disposed upon the storage body and is engaged with a tape advancing mechanism, a tape severing device and a creaser wheel assembly for separately controlling tape advancement, tape severing and creaser wheel movement. In another version, the plunger is eliminated so that a substantially continuous flow of pressurized drywall compound is provided through an unobstructed delivery tube to the applicator head.