Under direction from the Tax Director, this position is responsible for managing the preparation and filing of federal income tax returns for all divisions of the company. This position is responsible for the preparation of quarterly and annual tax accounting, including compliance with both US Generally Accepted Accounting Principles (GAAP) and Securities and Exchange Commission (SEC) requirements, as well as maintaining underlying workpapers including journal entries and account reconciliations. This position is responsible for developing, documenting and maintaining all Tax Department internal controls necessary for compliance with Sarbanes/Oxley (SARBOX) requirements. This position works with outside advisors to look for ways to reduce the company’s federal and tax liability and provides support for due diligence in mergers and acquisitions.
This position is located in our downtown Chicago office.
Federal Tax Return Compliance:
- Supervises the Company tax department staff in the US federal income tax compliance process (including estimates and extensions) by gathering the necessary accounting information, completing the individual and consolidating tax forms through the use of specialized tax software and utilizing the US Internal Revenue Service’s (IRS) electronic filing process.
- Calculates quarterly and annual estimated tax liability and ensures prompt and accurate payment to the IRS.
- Maintains the underlying tax database utilized for tracking the tax basis of fixed assets.
- Manage IRS income and other federal tax audits, including tracking and documenting, all required disclosures and correspondence with the IRS.
Quarterly & Annual Tax Accounting:
- Prepares the quarterly and annual tax provision calculations under US GAAP and accompanying accounting journal entries and supporting work papers, including effective tax rate forecasting, and managing and maintaining tax compliance and accounting software.
- Responsible for worldwide tax provision consolidation and tax account reconciliations.
- Prepares all documentation and liability calculations for Uncertain Tax Positions.
- Works directly with public accounting firm representatives to ensure the quarterly and annual tax provision calculations are complete and correct.
- Prepares and submits to accounting any required tax information necessary to complete SEC Forms 10-Q and 10K as well as all supporting documentation.
Internal Control Responsibilities:
- Develops and maintains SARBOX matrix for Federal Income Taxes and Tax Accounting.
- Ensures compliance with SARBOX requirements by the tax department staff for all tax department internal controls.
- Works directly with auditors and outside consultants to ensure complete understanding of company internal controls over the tax return and compliance functions.
Tax Planning & Acquisition Support:
- Supports the Tax Director and outside consultants in tax planning projects that are related to US federal and international taxation.
- Supports the Tax Director and outside consultants in completing the due diligence process for proposed acquisitions and supervises the integration process for all completed acquisitions within the areas of responsibility including purchase accounting.
Critical features of this job are described under Essential Duties and Responsibilities. They may be, however, subject to change at any time due to reasonable accommodation or other reasons.
To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. Below are the minimum requirements of the education, experience, knowledge, and skills required to competently perform in this position. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
- Bachelor’s degree in Finance, Business or Accounting required.
- Certified Public Accountant or a Master’s Degree in Taxation or equivalent experience required.
- Minimum 8 years of progressively responsible tax experience with at least four years in a management position.
- Must be a strong leader with the ability to work independently and the ability to develop staff.
- Excellent communication and analytical skills.
- PC skills in Microsoft Word, Excel, database applications and tax software products.