Tax Accountant, Internal Federal & State Direct Tax

Deloitte - Houston, TX

Full-time - Entry Level

Remote - Houston, TX

Professional, Scientific, and Technical Services

About the position

As a Tax Accountant within the Internal Federal & State Direct Tax team at Deloitte, you will play a crucial role in the preparation and computation of book-tax differences, calculation of taxable income, and the preparation of federal partnership returns. This position is part of the US Firms Tax (USFT) team, which is responsible for establishing tax policy for Deloitte's US Firms and ensuring compliance with both domestic and foreign tax regulations. The Federal & State Direct Tax team specifically focuses on analyzing state apportionment, federal to state law adjustments, and preparing various tax returns including state partnership, composite, and withholding tax returns. Additionally, you will be involved in producing and distributing annual K-1 packages for all active and retired US Firms partners. In this role, you will be expected to prepare schedules and working papers for the partnership's federal, state, and local income tax returns, ensuring accuracy and compliance with tax laws. You will also assist in the preparation of composite nonresident income tax returns and engage in tax research to address federal and state tax issues affecting the US Firms. Your responsibilities will include coordinating federal withholding information returns, analyzing and calculating estimated state tax payments, and assisting with tax audits and correspondence with tax authorities. Furthermore, you will prepare selected general ledger accounts monthly to ensure the appropriateness of state tax accruals and assist with engagement workflow management. This position requires strong communication skills and proficiency in Excel, as you will be interacting with partners regarding their K-1 information and withholdings, as well as making recommendations for business and process improvements related to US Firms tax matters. You will also assist in implementing any relevant federal, state, or local tax legislation, contributing to the overall efficiency and effectiveness of the tax function within Deloitte.

Responsibilities

• Prepare schedules and working papers for the US Firms' partnership federal, state, and local income tax returns, including certain partner-related information.
• Produce and distribute annual partner K-1 packages, including allocations of income, deductions, and separately stated items to US Firms partners.
• Assist in the preparation of the US Firms' federal, state, and local income tax returns, including composite nonresident income tax returns and certain partner-related information.
• Perform tax research as necessary regarding federal and state tax issues affecting the US Firms.
• Coordinate on federal withholding information returns.
• Assist in analysis and calculation of required estimated state tax payments.
• Assist with federal, state, and local tax audits and correspond with authorities regarding audit issues and/or tax notices.
• Prepare selected general ledger accounts monthly for appropriateness of state tax accruals.
• Assist with engagement workflow management.
• Assist with the annual partner state tax elections process and the collection of nonresident non-joiner affidavits, review per partner withholding, PET, and composite tax calculations.
• Assist with partner questions regarding federal or state or local tax matters related to their K-1 information and withholdings.
• Assist with implementation of any federal or state or local tax related legislation.
• Make recommendations on business and process improvements related to US Firms tax matters.

Requirements

• Bachelor's degree in Accounting/Taxation required.
• One (1) + years of prior experience in tax accounting or a related field.
• Excellent communication skills.
• Proficient in Microsoft Excel.

Nice-to-haves

• Advanced degree in Accounting or Taxation.
• Eligible for CPA or other relevant certification.
• Experience in a professional services firm.
• Understanding of federal and state partnership tax compliance, tax research, and tax planning.
• Tax forecasting/planning experience.
• Experience with partner level income allocations.

Benefits

• Discretionary annual incentive program based on individual and organizational performance.