Tax Supervisor

Tax Supervisor Overview

The Tax Supervisor is responsible for utilizing research skills, applying tax foundational knowledge to understand potential tax issues, gathering client information necessary for filing, participating in tax planning, recognizing and communicating potential risks, preparing tax accrual work papers, and working with tax software applications to complete tax returns for review. The Supervisor is also responsible for coordinating with the manager and principal and then advising clients on the tax implications of their business objectives, evaluating and selecting alternative actions to lessen tax burden and cost of compliance, identifying different methods of complying with tax regulations while acting as the primary client contact for complex tax issues.

In addition, the Tax Supervisor will be involved in growing marketing, networking and business development within an area of expertise and may be asked to provide written tax advice to clients.

• Control Environment
  • Applies knowledge of transactional flow and key transactional cycles to complete audit work
  • Documents, validates and assesses the design and operating effectiveness of the clients' internal control system
  • Identifies and communicates suggested improvements to client internal controls and accounting procedures to reduce risk
  • Supervise and reviews the work of audit staff
• Tax Compliance
  • Ensures both that (a) clients comply with all applicable authorities, while at the same time minimizing their tax and reporting burdens, and (b) self and client service teams comply with all Firm policies, standards, and the Rea's tax quality control policies
  • Conducts top-level review of T/R and resolves all tax issues with client; involves specialists where appropriate
  • Communicates with client and Assurance regarding tax accrual reviews
  • Plans and reviews the tax process and the procedures to be performed to include budgeting, staffing, monitoring engagement process and actual time incurred vs. budget, timely billing, timely collection of A/R, managing client relationships, and providing timely advice
• Research
  • Identifies when research is needed, frames issues, and reports analysis
  • Applies most Firm and professional standards for preparation of WTA (Written Tax Advice) and tax returns
• ASC 740‑10 (FAS 109 & FIN 48)
  • Correctly and proactively applies Firm policies, standards, and Rea's tax quality control policies regarding FAS 109 and FIN 48
  • Explains and discusses components of the income tax provision and uncertain tax positions to the client as well as other complexities surrounding ASC 740‑10
  • Communicates with Assurance counterparts to timely plan tax accrual reviews, including budget, scope and delivery dates
  • Utilizes and manages STS (specialized tax services), as needed
  • Prepares provision work papers and discusses with appropriate team members
  • Identifies and discusses uncertain positions with team members
  • Reviews & prepares footnote disclosures in compliance with 740‑10‑55
• Tax Accruals
  • Applies firm and professional standards for preparation of WTA and tax returns
  • Correctly applies the ASC 740‑10 policy to develop and discuss provision work papers
• Tax Consulting
  • Assists with developing, recommending, and implementing efficient and effective methods to maximize client benefits
  • Considers the applicability of CTS (core tax services) and STS consulting specialties for each client
  • Develops and implements a work plan to include/organize the STS assistance on ongoing projects
  • Serves as a technical resource
  • Provides effective assistance with exam support
  • Frames projects and issues for effective delegation to seniors and associates
  • Identifies consulting opportunities to reduce client's tax liability
  • Documents all significant tax positions, creating memorandums to the files (Tax issues Memos)
• GAAP
  • Applies knowledge and understanding of governing principles to client transactions and documents them
  • Communicates financial statement disclosure requirements to clients
  • Drafts complex sets of financial statements with disclosures if applicable
  • Recognizes and applies new pronouncements to client situations
  • Identifies complex accounting issues and brings them to the…