Deloitte Tax has purchased specific assets from Trust Processing Solutions (TPS), a Cincinnati, Ohio-based company focused on fiduciary tax compliance.
This acquisition enhances the capabilities of Deloitte Tax’s Institutional Trust Group (ITG) and its fiduciary tax compliance teams.
Deloitte Tax chair and CEO Carin Giuliante said: “The acquisition of certain assets of Trust Processing Solutions creates an incredible opportunity for our people, our clients and Deloitte Tax.
“By combining the existing capabilities of our ITG team with TPS’s experience in key specialty areas and processes, we will be well-positioned to offer current and future clients unparalleled depth and knowledge.”
The acquisition expands ITG’s reach and supports Deloitte Tax’s aim of becoming a leading provider of fiduciary tax services in the US.
The integrated team, comprising Deloitte Tax ITG and former TPS staff, will work together to provide fiduciary tax services, as well as tax services for charitable organisations, individuals, gifts, estates, and information reporting.
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By GlobalDataTPS managing partner Doug Hart said: “Today is the start of an exciting new chapter for the TPS team joining Deloitte Tax.
“TPS has been a serious operator in the fiduciary tax services space, successfully managing a high volume of returns with a robust client list.
“We are excited to combine our experience with that of the Deloitte Tax ITG team, whose deep industry knowledge and global reach will allow our combined workforce to deliver even greater value to our clients.”
