Staff Level II Accountant - 1065 FS - Tax - BLR

Responsibilities

• Preparation of form 1065-Partnership returns for Hedge Funds, Private Equity, Venture Capital Funds, Fund of Funds (federal & state jurisdictions returns).
• Basic knowledge of tax allocations, waterfall, carry, instalment Sales.
• Basic understanding of derivatives. Basic understanding of Temporary and permanent adjustments.
• Basic understanding of favorable and unfavorable adjustments.
• Basic understanding of Sec 163J and Sec 199A.
• Basic understanding of Schedule M-1, Schedule M-3.
• Basic understanding of types of investors (Limited and General Partners).
• Basic understanding of Management companies, GP entities.
• Book to tax adjustment for accruals and prepaids.
• Depreciation & Amortization - Tax concept, applicability, and eligible assets.
• Basic understanding of Guaranteed payment tax treatment.
• Reference IRC codes & preliminary source for any new book to tax differences identified in supporting workpapers.
• Basic understanding of State tax returns, e.g., common state adjustments, Allocation and Apportionment (A&A)
• Ability to differentiate between Allocation of income and Apportionment of income.
• Clear understanding of partners tax capital accounts.
• Ability to perform proper self-review of work before moving the task for review.
• Document open items and share updates with reviewer in completing tax returns within set deadlines.
• Ability to work on multiple projects simultaneously and correspond with aligned reviewer on status.
• Knowledge of e-file validation and diagnostics of returns and connect Go support for e-file diagnostics clearing.
• Hands on experience on tools and applications (Allocation work papers, aggregates as applicable)
• Basic understanding of CARES Act and its implication and application.

Requirements

• Qualification: Commerce Graduate/Postgraduate
• Experience: 2+ years in US Taxation.
• The candidate should possess good communication and drafting skills with a work-based demonstrated affinity in pursuing a career in customs matters.
• The candidate should demonstrate integrity and energy and possess independent working ability and have a collaborative mindset
• Active communicator and a great team player
• Ability to plan, prioritize, and organize work effectively
• Ability to balance many projects simultaneously
• Ability to work under pressure and time deadlines
• Ability to work independently
• Ability to be flexible with scheduling to meet workflow demands
• Ability to present a professional appearance and demeanor
• Ability to maintain client confidentiality, personal objectivity, and professional skepticism

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