Tax Analyst (Accountant), Internal Federal & State Direct Tax
About the Team
Firm Tax team: This position is a part of the US India Firms Tax team. The Firms Tax team is responsible for ensuring entity level compliances for all the US companies, besides catering to the tax essentials and advise to US companies business and enabling functions ecosystems. The team consists of tax professionals with adequate expertise in handling tax matters. This team works in close coordination with the US finance, legal and enabling besides business teams to ensure optimum tax health of the US companies named above.
Job Overview & Key Relationships:
As a Tax Accountant, you will be responsible for preparing and computing book-tax differences, calculating taxable income, preparing federal partnership returns, analyzing state apportionment, state law adjustments, and preparing state partnership, composite, and withholding tax returns, and producing and distributing the annual K-1 packages. This requires involvement in various processes including federal and state return and K-1 preparation. You will also assist with transforming our people, processes, and technology.
What youll do:
- Prepare schedules and working papers for the US Firms partnership federal, state, and local income tax returns, including certain partner-related information.
- Produce and distribute annual partner K-1 packages, including allocations of income, deductions, and separately stated items to US Firms partners.
- Assist in the preparation of the US Firms federal, state, and local income tax returns, including composite nonresident income tax returns and certain partner-related information.
- Perform tax research as necessary regarding federal and state tax issues affecting the US Firms.
- Coordinate on federal withholding information returns.
- Assist in analysis and calculation of required estimated state tax payments.
- Assist with federal, state, and local tax audits and correspond with authorities regarding audit issues and/or tax notices.
- Prepare selected general ledger accounts monthly for appropriateness of state tax accruals.
- Assisting with engagement workflow management.
- Assist with the annual partner state tax elections process and the collection of nonresident non-joiner affidavits, review per partner withholding, PET, and composite tax calculations.
- Assist with partner questions regarding federal or state or local tax matters related to their K-1 information and withholdings.
- Assist with implementation of any federal or state or local tax related legislation.
- Make recommendations on business and process improvements related to US Firms tax matters.
Qualifications:
Required:
- Bachelors degree in Accounting/Taxation required.
- One (1) + years of prior experience.
- Excellent communication skills.
- Proficient in Excel.
- Limited immigration sponsorship may be available
Preferred:
- Advanced degree.
- Eligible for CPA or other relevant certification.
- Experience in a professional services firm.
- Understanding of federal and state partnership tax compliance, tax research, and tax planning.
- Tax forecasting / planning experience.
- Partner level income allocations.
Location: Hyderabad
Shift timing: 2PM -11 PM