Tax Specialist

4 days ago


Bengaluru, Karnataka, India Withum Full time

We are a forward-thinking, technology-driven advisory and accounting firm. Our team of experts empowers clients with innovative tools and solutions to address their financial planning needs.

About the Role

As a Tax Staff Accountant in our Withum India office, you will be reporting to the Tax Managers and Seniors in the Withum India office and collaborating with the US Tax Services Group on various tax engagements.

Key Responsibilities
  • Preparation of form 1065-Partnership returns for both Real estate and operating partnership federal & state jurisdictions returns.
  • 1 to 4 years of post-qualification hands-on experience in U.S accounting firm.
  • Basic understanding of Temporary and permanent adjustments.
  • Basic understanding of favorable and unfavorable adjustments.
  • Book to tax adjustment for accruals and prepaids.
  • Work on book to tax reconciliation (Sch M-1), depreciation computation (Form 4562) & supporting documents with adequate referencing (e.g. Applicability of Sec 179, 168(k) bonus depreciation and Regular MACRS depreciation).
  • Working level experience on Gains and losses (Sec 1245, 1231, 1250 and 291)
  • 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.
  • Factors associated with A&A.
  • Special allocations V/S default ratio allocations.
  • 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 correspondence with aligned reviewer on status.
  • Knowledge of efile validation and diagnostics of returns and connect Go support for efile diagnostics clearing.
  • Hands-on experience on tools and applications.
  • Basic understanding of CARES Act and its implication and application.
About Withum

We are a nationally ranked Top 25 firm, where talent thrives. We recruit only the best and brightest people, with a genuine passion for the business.

Requirements

- Estimated salary: $60,000 - $80,000 per year.



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