#United States #Cincinnati #Fiduciary Services #Deloitte Tax #TPS

Deloitte Tax Expands Its Reach Through TPS Acquisition

In a strategic move to bolster its fiduciary tax services, Deloitte Tax LLP recently announced the acquisition of certain assets from Trust Processing Solutions LLP (TPS), a well-regarded firm in the fiduciary tax compliance sector based in Cincinnati, Ohio. This acquisition marks a significant step forward for Deloitte Tax, positioning it as a major player in the fiduciary services market in the United States.

Elevating Fiduciary Tax Compliance Services

Deloitte's Institutional Trust Group (ITG) and Fiduciary Tax Compliance teams stand to benefit immensely from this acquisition. TPS has built a strong reputation for providing exceptional fiduciary services and has demonstrated a remarkable capacity to manage a high volume of returns, making it a perfect fit for Deloitte's existing expertise.

Carin Giuliante, Chair and CEO of Deloitte Tax, remarked on the transformational potential of this acquisition, stating, "The acquisition of certain assets from Trust Processing Solutions creates an incredible opportunity for our people, our clients, and Deloitte Tax." With TPS's strong connections and established market presence, Deloitte aims to enhance its service offerings significantly.

Insights from Industry Leaders

Doug Hart, Managing Partner at TPS, expressed enthusiasm about the merger, highlighting that it represents an exciting new chapter for his team. He noted, "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."

The acquisition is set to unify the capabilities of both teams, enhancing the breadth of services provided to clients. TPS's specialized knowledge in fiduciary tax compliance will complement Deloitte's resources, allowing them to offer more integrated and comprehensive services to both current and future clients.

A Combined Force in the Market

Deloitte Tax aims to capitalize on this merger to become one of the leading providers of fiduciary tax services in the U.S. Dan Mueller, Managing Partner for Businesses and Offerings at Deloitte Tax, highlighted the acquisition's potential to unlock significant market opportunities. He stated, "The acquisition of certain assets of TPS... will unlock tremendous marketplace potential for the future growth of our ITG team."

The integration of TPS’s experienced professionals into Deloitte Tax's existing team will work collectively to create a powerhouse in fiduciary tax services. Laura Paszt, a partner and the ITG leader at Deloitte Tax, emphasized the value of this collaboration, asserting, "Our newly combined team exemplifies excellence in fiduciary tax services, utilizing premier tax platforms."

Future Growth and Client Benefits

The newly unified team will not only offer fiduciary tax services but will also expand into charitable contributions, individual, gift, estate, and information reporting tax services. This expansion highlights Deloitte's commitment to addressing a wide spectrum of client needs in fiduciary tax services.

Deloitte's deployment of advanced tax platforms such as ONESOURCE Trust Tax and CCH Axcess will enhance efficiency, accuracy, and service delivery, thereby driving greater value for clients.

As Deloitte continues to integrate TPS’s expertise into its operations, the firm sets its sights on redefining success within the fiduciary tax landscape, creating a future abundant with possibilities both for its clients and workforce.