Tax Accountant

Job Description

Title:

Tax Accountant

Job Code:

10638

Work Location:

Flexible

Summary:
Explain the role and its contribution within the organization within four sentences.

The Tax Account will assist the Tax Reporting and Compliance team in overseeing tax compliance for the University of Chicago Medicine. This position will be responsible for ensuring payroll, sales and use, property tax, and 1099/1042 information reporting compliance with the federal/state/local tax laws including filing of returns for not-for-profits, taxable C-corporations, partnerships, and international tax filings. The individual will work closely with the Strategic Tax Reporting and Compliance leadership to plan and maintain an efficient/timely compliance process, reduce overall tax risk and ensure the delivery of high-quality services to UChicago Medicine and its affiliates.

The position will research tax laws and regulations and document and communicate their impact broadly to the organization. This person will be a key tax consultant for affiliates and play a critical role in maintaining/establishing strong relationships with them.

Primary

Job Functions:

List primary duties the role performs in increments of no less than 10%.

%

State Payroll Tax Compliance and Monitoring

• Research and document compliance with state laws specific to remote work
• Prepare new registrations for state tax compliance for remote workforce
• Monitor payroll rosters and liaise with HR for potential new hires in states not currently registered for payroll
• Provide internal tax support and manage open cases with external payroll tax preparers
• Provide tax support to payroll department on state tax issues.

60%

Sales and Use Tax

• Review Illinois and Indiana sales and use tax returns for:
  Not-for-profits, taxable C-corporations and partnerships related to hospital operations.
• Assist accounts payable and payroll in the review of annual information return filings (1099) and IRS inquiries/compliance checks.
• Gather and review 1099’s received by UCM and related entities.
• Prepare W-9’s and review W-8’s other FATCA compliance forms.

10%

IRS 1099/1042 Information Reporting

• Review Illinois and Indiana sales and use tax returns for:
  Not-for-profits, taxable C-corporations and partnerships related to hospital operations.
• Assist accounts payable and payroll in the review of annual information return filings (1099 & 1042) and IRS inquiries/compliance checks.
• Gather and review 1099’s received by UCM and related entities.
• Prepare W-9’s and review W-8’s other FATCA compliance forms.

10%

Tax Credits and Incentives Research/Projects

• Provide periodic financial statement reporting for New Markets Tax Credits projects
• Research and interpret tax issues, document and communicate findings.
• Identify areas of opportunity and recommend procedures, processes, and instructions to create efficient and aligned work.
• Perform other duties as assigned.

10%

Property Taxes

• Process periodic GL entries to account for tax receivables/payables and accrued property taxes.
• Work closely with Legal and UCM facilities to ensure property taxes are paid on time
• Track refunds related to certificates of error and new property tax exemptions
• Assist in the preparation of new property tax exemption applications and annual property tax renewal submissions.

5%

Performs other duties as assigned.

5%

Knowledge, Skills, Abilities and Other Work Requirements

Qualifications:

• Bachelor’s degree in accounting, taxation, or related field from an accredited college or university.
• 2 years of work experience, preferable at least 1 year in accounting and/or taxes (includes internships)
• Knowledge of Generally Accepted Accounting Principles (GAAP).
• Advanced computer skills required including Office (Word, Excel, PowerPoint).
• Excellent written and oral communication skills are essential.
• Logical, clear thinking and independence is crucial.

License or

Certifications:

CPA or CFA certification is preferred, but not required

Skills:

• Strong understanding of generally accepted accounting principles and concepts
• Familiarity with relevant regulations and compliance requirements.
• Ability to manage several high priority assignments / task to completion
• Proficiency in financial analysis,…