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    TAX Manager - Palos Heights, United States - Insight Global

    Insight Global
    Insight Global Palos Heights, United States

    2 weeks ago

    Insight Global background
    Description


    The Tax Manager is a leadership position involved in the management of one or more business units within the firm: accounting and financial reporting, business income tax return preparation, individual income tax return preparation or financial and estate planning.

    The tax manager role requires advanced technical training to work with the most sophisticated clients as well as those requiring taxpayer representation to address tax controversy issues.

    This role offers employees the experience and training to expand their ability to offer professional services to new and existing clients, as well as identifying possible areas for specialization.

    The position oversees client relationships and the completion of work assignments to deliver integrated tax and accounting services.


    The tax manager focuses on managing business unit work assignments and employee billable time to ensure that deliverables reach the client on time.

    It requires an in-depth knowledge of Generally Accepted Accounting Principles (GAAP) Accounting Standards Codification and Internal Revenue Code with the ability to supervise and train staff to prepare financial statements and income tax returns in accordance with the rules and regulations.

    The job necessitates building a team as well as working independently.

    Essential Functions


    Manage Accounting and Financial Reporting Practice Manage work assignments, work product quality and service delivery of the accounting and financial reporting practice.


    Business Organizer Review - Manage staff that maintain the financial books and tax records and assembles the Business Organizer. Review Business Organizer reconciliations, accounting and account analysis. Complete Business Organizer documentation and perform accounting work for the more advanced clients.

    Financial Statement Review Review and /or prepare GAAP-compliant financial statements that include a balance sheet, income statement, cash flow statement and statement of changes in equity substantiated by Business Organizer account analysis and reconciliations.

    For financial statements requiring full disclosures, prepare notes to the financial statements in accordance with Accounting Standards Codification.

    Manage Individual Tax Practice Manage work assignments, work product quality and service delivery of the individual tax return preparation practice.

    Establish and direct process from receiving client information to return preparation, processing, e-filing and delivery to client.

    Individual Income Tax Return Review Manage staff that prepare individual income tax returns. Review tax returns and supporting documents.

    Individual Advanced Income Tax Return Preparation Prepare and complete Form 1040 U. S.

    Individual Income Tax Return, Form IL-1040 Individual Income Tax Return, nonresident multi-state income tax returns and related extensions and estimated tax payments for the more complicated and sophisticated clients.

    Manage Business Tax Practice Manage work assignments, work product quality and service delivery of the business income tax return preparation practice.

    Establish and direct process from receiving Business Organizer information with book tax income reconciliation to return preparation, processing, e- filing and delivery to client.


    Business Income Tax Return Review Manage staff that prepare business income tax returns.

    Review tax returns and supporting documents to provide a reconciled audit trail from the Business Organizer to tax return reporting.

    Business Advanced Income Tax Return Preparation Prepare and complete all business type income tax returns (Form 1065, Form 1120, Form 1120-S, Form 990), income apportionment to multi-state income tax returns and related extensions and estimated tax payments for the more complicated and sophisticated clients.


    Estate and Trust Tax Administration and Return Preparation Obtain client financial records and assemble Estate or Trust Organizer. Provide on-going administration of estate or trust, beneficiary distributions and preparation of tax returns.

    Trusts and Estate Income Tax Return - Prepare, process for review and e-file Form 1041 U. S.

    Income Tax Return for Estates and Trusts and Illinois Form IL-1041 Fiduciary Income and Replacement Tax Return and related extensions and estimated tax payments.

    Gift Tax Return - Prepare, process for review and e-file Form 709 United States Gift (and Generation- Skipping Transfer) Tax Return.

    Estate Tax Return - Prepare, process for review and e-file Form 706, United States Estate (and Generation-Skipping Transfer) Tax Return and Attorney General Illinois Estate & Generation Skipping Transfer Tax Return for Decedents and related extensions and estimated tax payments.

    Staff Supervision and Development - Oversee staff work assignments, alter assignments when conflicts arise, and provide ongoing training and mentorship.

    Evaluate staff and assess performance. Make hiring, promoting and firing decisions.

    Advisory Tax Research and Planning Perform tax research and advise clients on tax minimization, tax transfer and tax avoidance strategies.

    Write tax research memorandums explaining tax topic, clarifying tax implications on transactions and presenting tax strategies.

    Taxpayer Representation - Respond to Internal Revenue Service and Illinois Department of Revenue tax return inquiries or tax examinations.

    Represent the client through the tax examination process and seek relief through a request for penalty reduction, waiver or abatement.

    Practice Management Assist the Tax Principal with firm practice management including time and billing, IT systems and HR procedures.

    Identify new business development opportunities to grow the client base.

    10 + years of tax accounting experience

    3 + years of experience managing direct reports

    In-depth knowledge of Generally Accepted Accounting Principles (GAAP)

    Experience with QuickBooks, ProSeries, Microsoft Word and Excel

    Bachelor's Degree in Accounting, Finance, or Tax

    CPA License

    Business and income tax experience

    Big 4 industry experience


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