University of Chicago - Chicago, IL

posted 6 months ago

Full-time
Chicago, IL
Educational Services

About the position

The Lead Tax Accountant at The University of Chicago plays a crucial role in overseeing tax compliance and the preparation of various tax forms, including forms 990, 990T, excise tax returns, and foreign filings. Reporting directly to the Controller, this position is responsible for ensuring that the University adheres to all tax regulations while also identifying strategies for tax savings and reducing tax liabilities. The Lead Tax Accountant will collaborate with outside consultants to research and implement tax-saving strategies, ensuring that the University remains compliant with changing tax laws that impact higher education institutions. In addition to tax compliance, the Lead Tax Accountant will develop and provide training on tax issues for finance and accounting professionals across the campus. This role requires a proactive approach to monitoring tax-related information, such as K-1s and other relevant data concerning the University’s investments. The Lead Tax Accountant will also be responsible for preparing unrelated business income work papers, filing extensions, processing tax payments, and ensuring compliance with sales and use tax regulations. The position demands a high level of expertise in tax research and the ability to stay informed about legislative changes that may affect the University’s tax obligations. The Lead Tax Accountant will also supervise an entry-level tax accountant, providing guidance and support in their professional development. Overall, this role is integral to the financial health of the University, ensuring that tax compliance is met while also seeking opportunities for financial efficiency and savings.

Responsibilities

  • Oversees tax compliance for the University and prepares timely filings of 990 tax returns.
  • Analyzes and reviews unrelated business income and reporting issues for the 990T tax return.
  • Performs tax research and stays informed about changing tax laws impacting higher education.
  • Provides strategic guidance to reduce tax liability and find tax savings in collaboration with outside consultants.
  • Monitors the receipt of K-1's and other relevant tax information related to the University's investments.
  • Provides strategic direction for compliance with the Inflation Reduction Act.
  • Works with the Investment Office staff to access reports and information in Backstop.
  • Collaborates with campus units generating unrelated business income.
  • Identifies and develops training for campus-wide knowledge-sharing regarding tax topics.
  • Reviews and analyzes unrelated business income calculations from campus departments.
  • Prepares unrelated business income work papers for various campus activities.
  • Files extensions and processes tax payments.
  • Prepares W-9 and other FATCA compliance forms.
  • Prepares and files form 720 tax returns.
  • Reviews campus compliance with sales and use tax.
  • Maintains and updates related organization database.
  • Prepares external survey requests based upon 990 information.
  • Develops and maintains the tax website.
  • Supervises entry-level tax accountant.
  • Reconciles and records monthly activities for foreign entities.
  • Works closely with financial services staff on various accounting issues.
  • Collaborates with other staff in the preparation of year-end financial statement work papers.
  • Recommends methods for improved operations.
  • Performs other related work as needed.

Requirements

  • Minimum college or university degree in a related field.
  • 7+ years of work experience in a related job discipline.

Nice-to-haves

  • Bachelor's degree in accounting or business administration with a concentration in accounting.
  • Master's degree in taxation (MST).
  • Seven years of relevant tax and accounting experience.
  • CPA certification.
  • Knowledge of federal income tax related to higher education.
  • Knowledge of Generally Accepted Accounting Principles (GAAP).
  • Proficiency with Microsoft Office (Word, Excel, PowerPoint).
  • Experience with tax software such as ProSystem FX and C-TRAC.
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