WTP Advisors Acquires Specialized Tax Group, "Interest and Penalty Advisors LLC"

WTP Advisors Acquires Specialized Tax Group, "Interest and Penalty Advisors LLC"

Nov 04, 2011

Firm is Industry Leader in Federal Tax Interest Recovery

Ogden, UT – WTP Advisors, the award-winning tax and business advisory headquartered in White Plains, NY, announces that it has acquired Utah-based Interest and Penalty Advisors LLC (IPA). An esteemed industry leader, IPA is a highly-specialized tax consulting firm that helps taxpayers save money by developing strategies that optimize interest and penalty positions for adjustments that have been made to their “as filed” tax liabilities. Under the terms of the acquisition, IPA now will become WTP Interest and Penalty Advisors. 

“IPA pioneered the field of tax interest recovery. With today’s announcement, it’s safe to say that no other firm can provide the depth and quality of expertise that WTP Advisors now offers in this area,” says Ian Boccaccio, Partner and co-founder of WTP Advisors.

IPA was formerly the consulting arm of Decision Modeling, Inc., which developed the interest and penalty calculation software that has become the industry gold standard. Every member of the IPA group has been involved in the development and refinement of the software, which is the program used by the IRS in its computation of tax interest and penalties.

“Because of this experience, we have an intimate understanding of the way tax interest is computed. Our unique knowledge allows us to identify erroneous interest computations and establish methodologies that help us recover significant refunds for our clients,” says Steve O’Connell, co-founder of IPA, who will now serve as a Partner and WTP Interest and Penalty Advisors Practice Leader at WTP Advisors.

IPA’s tax Account AnalysisTM service has negotiated many  hundreds of millions of dollars in interest recovery from the IRS and Department of Justice. Its Failure To Deposit (FTD) Penalty OptimizationTM service provides review of payroll penalty amounts calculated by the IRS and IPA has had significant success in reducing these penalties for its clients. 

"It’s a natural fit; IPA falls into WTP’s core competencies exactly, driving value through quantitative analysis through the use of best-in-class technology, and we are honored to be a part of this visionary group" says O’Connell. 

"WTP remains committed to bringing the highest value tax and business solutions to our clients. Our acquisition of IPA is a direct reflection of that commitment," says Boccaccio.

Both WTP Advisors and IPA promise a seamless transition for existing clients and are confident the new alliance will benefit existing clients as well as new ones.

"WTP’s existing clients will receive easy access to the best-in-class software and personnel in the interest and penalty arena. IPA clients will profit from the proven WTP Advisors processes on which the WTP brand was built," says Boccaccio. 


WTP Advisors is a leader in tax and business advisory services for a global marketplace. Our highly skilled professionals equipped with years of industry experience, coupled with our cutting-edge technologies, make substantive and long-term differences to an organization’s profitability. WTP Advisors is headquartered in White Plains, New York, with offices across North America, Asia and Europe. 

For over a decade, Interest and Penalty Advisors LLC (IPA) has been the premier provider of Account Analysis™ services for tax interest advice and recovery. IPA has also provided expertise in FTD Penalty Optimization™, as well as litigation support services. Our clients include companies of all sizes including many in the Fortune 500. IPA's tax Account Analysis service has negotiated many hundreds of millions of dollars in interest recovery for our clients with the IRS and Dept. of Justice. IPA offers its clients complete IRS interest computation review often at a fraction of the cost charged by other firms.