Tax services firm Ryan has acquired the TAARP Group LLP, a tax and penalty review firm, for an undisclosed sum.
The deal, which was announced Thursday, adds market share and income tax expertise in areas such as global interest netting, statutes of limitations, claims for refund, Internal Revenue Service transcription comprehension, and other IRS practice and procedure matters.
Ryan plans to leverage the acquisition to launch a new interest and penalty review service to support clients in determining the correctness of IRS or state interest and penalty calculations, proactive cash audit management strategies, and strategic advice on other IRS procedural matters.
“This acquisition represents a significant step forward in building a comprehensive Federal Income Tax practice to complement our industry-leading Federal Excise Tax practice,” said Ryan chairman and CEO G. Brint Ryan in a statement.
The acquisition also adds a number of Fortune 500 companies to Ryan’s client base, along with a team of tax experts to support Ryan’s Federal Income Tax practice. TAARP Group founders David Veeder, Mark Ely and David Miller will join Ryan as principals. Veeder will become Federal Income Tax Practice Leader in Ryan’s Dallas office, Ely will be based in the firm's Washington, D.C., office, and Miller will be based in Ryan’s Tampa office.
