Tax Compliance Specialist
- Madison, WI
- Direct Hire - Full Time
The QTI Group has partnered with an established insurance company to find a Tax Compliance Specialist. This company is headquartered in Madison, WI, and can be remote with some travel to Madison required. The role will manage tax compliance activities and oversee the federal and state income tax returns and deposits. Additional responsibilities include state and municipal premium tax returns and deposits, GAAP and statutory tax provisions, accruals, and other tax entries. The tax Compliance Specialist performs tax research and analysis as required or directed and educates management on tax consequences of corporate initiatives as requested. Performs or assists in the development of tax strategies and plans to minimize tax liability in accordance with corporate strategic plans and objectives, prepares an effective presentation of findings to management. Maintains corporate tax records sufficient to meet IRS and other regulatory requirements and internal needs, communicate in an appropriate manner with all types of stakeholders as requested.
- Oversee and prepare federal and state income tax returns and other tax reports within regulatory and internal timeframes. Develop and maintain appropriate procedures to assure all company and return types remain within compliance standards for all government requirements.
- Prepare GAAP and statutory tax provisions, accruals, and other tax entries and schedules. Develop and maintain provisions and procedures to assure all sets of accounting guidelines are met.
- Coordinate and prepare filing of state and municipal premium tax returns for all companies. Develop and maintain procedures and administer all software used to assure compliance and internal efficiencies are met.
- Perform tax research and analysis as required or directed. Communicate tax analysis to all appropriate areas of the organization. Provide appropriate level of tax knowledge to management as requested for corporate decision process.
- Provide guidance to financial, investment, actuary, accounts payable, payroll, and reinsurance areas of the company in developing and maintaining appropriate procedures related to tax workflows.
- Assist with overseeing IRS and state tax-related audits
- Train new employees on all tax procedures. Monitor progress and report to management for review process.
- Provide appropriate level of training to any new employees or management to assure tax workflows remain efficient. Monitor all tax receivables and payables and advise management on changes that affect tax workflows in all areas of the company.
- Prepare Federal 945 and perform accounting and reconciliations for policyholder withholding at both state and federal levels.
- Prepare other state and federal corporate reporting as necessary.
- Other duties as assigned.
- Bachelor’s degree in accounting, CPA, and LOMA designations preferred.
- Minimum of five years’ experience in federal and state corporate income taxation and related financial reporting required.
- Minimum of five years’ experience in statutory and GAAP accounting for life insurance companies.
- Minimum of three years’ experience in state and municipal premium taxation for life insurance companies.
- Comprehensive knowledge of accounting, tax reporting, GAAP, and statutory principles.
- Strong knowledge of federal and state tax laws applicable to life and health insurance industry as well as non-insurance corporations, partnerships, and LLCs.
- Strong analytical skills and attention to detail. Ability to research tax issues using multiple resources.
- Strong written and oral communication skills.
- Working knowledge of Excel, Word, adept with tax software, fixed asset software, and general ledger software.
- Strong planning, organization, project management, and time management skills.