Payroll Tax Specialist

$52,000 - $77,480/Yr

TD Bank - Mount Laurel Township, NJ

posted 2 months ago

Full-time - Mid Level
Mount Laurel Township, NJ
10,001+ employees
Credit Intermediation and Related Activities

About the position

The Payroll Tax Specialist at TD Bank is responsible for processing payroll-related tax and general ledger functions within the Payroll Department. This role requires timely processing of tax and general ledger activities in compliance with bank policies, procedures, guidelines, and all federal, state, and local regulations. The specialist will perform payroll tax analysis duties, which include reconciling quarterly tax information, collaborating with tax agency representatives to resolve outstanding issues, and researching tax tracers and notices. Additionally, the role involves creating and modifying reports as needed, generating standard and ad hoc reports for management review and analysis, and coordinating the maintenance of payroll records and reports, including the generation of W-2s and other regulatory reports. The Payroll Tax Specialist ensures the accuracy of reports and adherence to regulatory requirements. They may work with state personnel and payroll vendors to resolve escalated issues and support acquisition activities by setting up location codes, notifying state agencies, auditing reports, and addressing unusual and non-routine issues. The specialist is responsible for various routine duties, including reconciling the general ledger, reconciling all tax reports and quarterly files in conjunction with the third-party provider, monitoring audit reports, and collaborating with payroll processors to ensure proper adjustments to transactional work. Maintaining current knowledge of related processes and procedures is essential, as is developing and implementing procedures to resolve recurring issues. The specialist will interact with various employees in cross-functional areas to resolve issues and develop solutions, making process improvement recommendations to management and assisting in the planning and implementation of solutions. They will also respond to and resolve inquiries from management regarding payroll issues and research inquiries through various data retrieval methods.

Responsibilities

  • Process payroll-related tax and general ledger functions in compliance with regulations.
  • Perform payroll tax analysis duties including reconciling quarterly tax information.
  • Work with tax agency representatives to resolve outstanding issues.
  • Research tax tracers and notices as needed.
  • Create and modify reports for management review and analysis.
  • Coordinate the maintenance of payroll records and reports, including W-2 generation.
  • Ensure accuracy of reports and adherence to regulatory requirements.
  • Collaborate with state personnel and payroll vendors to resolve escalated issues.
  • Support acquisition activities by setting up location codes and notifying state agencies.
  • Audit reports and address unusual and non-routine issues.
  • Reconcile the general ledger and all tax reports with third-party providers.
  • Monitor audit reports and ensure proper adjustments to transactional work.
  • Maintain current knowledge of payroll and tax processes and procedures.
  • Develop and implement procedures to resolve recurring issues.
  • Interact with cross-functional teams to resolve issues and develop solutions.
  • Make process improvement recommendations to management.
  • Respond to and resolve inquiries from management regarding payroll issues.

Requirements

  • 7+ years of related experience in payroll processing and tax analysis.
  • In-depth knowledge of payroll processing practices and applicable laws.
  • Solid basic accounting skills and knowledge.
  • Ability to balance competing priorities effectively.
  • Experience with in-house Payroll HRI System, preferably PeopleSoft.
  • Experience with multi-state tax service or outsourcing service to third-party providers.
  • Experience with general ledger and reconciliations.
  • Knowledge of laws affecting payroll taxes.
  • Excellent customer service orientation and interpersonal skills.
  • Strong organizational skills and ability to communicate clearly, both verbally and in writing on financial matters.

Nice-to-haves

  • Participation in professional workshops or organizations to stay updated on payroll and tax issues.

Benefits

  • Base salary and variable compensation/incentive awards.
  • Health and well-being benefits.
  • Savings and retirement programs.
  • Paid time off including Vacation PTO, Flex PTO, and Holiday PTO.
  • Banking benefits and discounts.
  • Career development opportunities.
  • Reward and recognition programs.
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