MGM Resorts International - Las Vegas, NV
posted 5 months ago
The Senior Tax Accountant is a vital role within MGM Resorts, focusing on the management of the company's tax fixed assets and the calculations of federal and state depreciation. This position operates in a dynamic and fast-paced environment, requiring a thorough understanding of tax regulations and accounting principles. The Senior Tax Accountant will be responsible for reconciling the U.S. legal entity's U.S. GAAP fixed asset books against the tax depreciation books, which includes federal, state, and E&P tax depreciation books. This reconciliation is crucial for the preparation of federal and state corporate and partnership tax filings, ensuring compliance with all relevant tax laws and regulations. In addition to reconciliation, the Senior Tax Accountant will maintain the tax depreciation books using Bloomberg Fixed Assets, MGM's tax depreciation software. This involves ensuring that U.S. GAAP accounting data from the Oracle ERP system is accurately uploaded into Bloomberg Fixed Assets for tax purposes. The role also includes reviewing fixed asset additions, disposals, and retirements on a routine basis. The accountant will analyze construction-in-progress general ledger accounts to determine if new projects require a cost segregation study and will estimate depreciation on these projects accordingly. The Senior Tax Accountant will provide essential data to vendors preparing cost segregation studies and will review their analyses to ensure accuracy. Furthermore, the role involves preparing tax depreciation projections and conducting tax analyses of fixed asset disposals, which are critical for the provision for income taxes under ASC 740. The accountant will also prepare tax depreciation projections for inclusion in federal taxable income projections, aiding in cash tax forecasts. Collaboration is key in this role, as the Senior Tax Accountant will assist with various fixed asset-related projects, including capitalized interest calculations and base stock analysis. They will prepare lead schedules to support federal and state income tax returns and coordinate with colleagues on the preparation of Form 4562, 4797, and Schedule D. The position may also involve performing other job-related duties as requested, contributing to the overall efficiency and effectiveness of the tax department.