Commonwealth Trust Company
Tax Manager
Commonwealth Trust Company, Wilmington, Delaware, us, 19894
TAX MANAGER
The primary function of the Tax Manager is the planning, oversight, preparation and reviewof Fiduciary Income Tax Returns and maintaining the tax records of the trusts for whichCommonwealth Trust Company serves as trustee.
EDUCATIONAL BACKGROUND & EXPERIENCE:
Bachelor’s degree in accounting, finance, taxation or other related field of study
Minimum of 10 years of experience in taxation required, at least 3 years of trust experience
Knowledge of directed trust tax issues is strongly preferred
At least five years of Public Accounting experience /active CPA license preferred
ESSENTIAL DUTIES AND RESPONSIBILITIES
including, but not limited to:
Review/preparation of annual tax reporting forms required by various trusts, most notably Form 1041: Fiduciary Income Tax Returns and related state income tax forms
Review/preparation of other tax forms as needed relating to distributions, gifts, estate, and generation skipping taxes for the trust and its beneficiaries
Review/preparation of tax return extensions and estimated tax payments
Address income tax preparation issues, such as taxable income and expense allocations, specific deductions and miscellaneous itemized deductions, income distribution deduction calculation, relation of principal and income law regarding distributable net income, and the treatment of capital gains and losses
Communicate and cultivate relationships with Trust Administrators, Trust Accountants, Legal Counsel and others to address issues relating to trusts and their beneficiaries
Develop and maintain open communication with clients and other third-party support service providers such as CPAs and Legal Counselors
Research and prepare tax memorandums supporting material tax positions
Support and contribute to the establishment of meaningful, effective and efficient tax processes and procedures for filing complete, accurate and timely tax returns
Act as primary departmental resource for trust tax preparation, review and planning knowledge and training
Mentor and share tax knowledge with others
OTHER SKILLS:
Strong PC skills, ability to use Microsoft Office, Experience with trust accounting software such as AccuTrust or Cheetah a plus, Knowledge of tax preparation software (CCH Axcess Tax) and tax research software CCH, RIA, and/or Checkpoint strongly preferred. Must be detail-oriented and have excellent communication skills.
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The primary function of the Tax Manager is the planning, oversight, preparation and reviewof Fiduciary Income Tax Returns and maintaining the tax records of the trusts for whichCommonwealth Trust Company serves as trustee.
EDUCATIONAL BACKGROUND & EXPERIENCE:
Bachelor’s degree in accounting, finance, taxation or other related field of study
Minimum of 10 years of experience in taxation required, at least 3 years of trust experience
Knowledge of directed trust tax issues is strongly preferred
At least five years of Public Accounting experience /active CPA license preferred
ESSENTIAL DUTIES AND RESPONSIBILITIES
including, but not limited to:
Review/preparation of annual tax reporting forms required by various trusts, most notably Form 1041: Fiduciary Income Tax Returns and related state income tax forms
Review/preparation of other tax forms as needed relating to distributions, gifts, estate, and generation skipping taxes for the trust and its beneficiaries
Review/preparation of tax return extensions and estimated tax payments
Address income tax preparation issues, such as taxable income and expense allocations, specific deductions and miscellaneous itemized deductions, income distribution deduction calculation, relation of principal and income law regarding distributable net income, and the treatment of capital gains and losses
Communicate and cultivate relationships with Trust Administrators, Trust Accountants, Legal Counsel and others to address issues relating to trusts and their beneficiaries
Develop and maintain open communication with clients and other third-party support service providers such as CPAs and Legal Counselors
Research and prepare tax memorandums supporting material tax positions
Support and contribute to the establishment of meaningful, effective and efficient tax processes and procedures for filing complete, accurate and timely tax returns
Act as primary departmental resource for trust tax preparation, review and planning knowledge and training
Mentor and share tax knowledge with others
OTHER SKILLS:
Strong PC skills, ability to use Microsoft Office, Experience with trust accounting software such as AccuTrust or Cheetah a plus, Knowledge of tax preparation software (CCH Axcess Tax) and tax research software CCH, RIA, and/or Checkpoint strongly preferred. Must be detail-oriented and have excellent communication skills.
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