Responsible for reviewing and supervising the Company’s federal and state income tax compliance in a manner that mitigates penalties related to late or incorrect filing and that minimizes the Company’s federal income tax liability, reviewing/preparing the Company’s quarterly and annual ASC 740 financial reporting, information reporting compliance and other miscellaneous tax projects, researching tax legislation and recommending appropriate actions, policies and procedures and managing state income tax audits.
DUTIES & RESPONSIBILITIES:
- Sets Income Tax goals for the team that are aligned with the strategic goals of the Company and consistently emphasizes key strategic priorities to team members. Encourages operational efficiencies and a focus on automation and reinforces efforts of team members who exhibit innovative behaviors. Identifies staff training and development needs and develops people to ensure the availability of future talent.
- Manages compliance and the preparation of the Company’s consolidated federal income tax returns. This responsibility includes reviewing the accuracy of all return forms and schedules, bridge schedules and all workpapers used in the preparation of returns and ensuring that returns are completed in a manner that meets internal deadlines, mitigates penalties related to late or incorrect filing and minimizes the Company’s federal income tax liability.
- Manages the Company’s state income tax compliance, research and planning. This responsibility includes ensuring that the state compliance is completed in a manner that both mitigates penalties related to late or incorrect filing and minimizes the Company’s federal income tax liability. Reviews recommendations from staff and determines feasibility within the overall corporate tax planning environment.
- Reviews and/or prepares the quarterly and year-end ASC 740 (Accounting for Income Taxes) financial reporting, including soliciting information from various parties, calculating appropriate income tax expense and deferral amounts, reviewing and/or preparing various reconciliations, footnote disclosures and FIN 48 disclosures and ensuring that this information is properly reflected in the financial statement footnotes.
- Maintains a thorough knowledge of current federal and state income tax laws and regulations, keeping abreast of ongoing and proposed legislation and ensuring that all federal and state compliance files are updated to reflect any necessary law or procedural changes.
- Assesses the impact of proposed and enacted statutory and case law to the Company, recommending actions, policies and procedures that further the Company’s tax strategies and goals and communicating the recommended actions and their effects to both finance and non-finance corporate personnel. Interfaces with the Company’s independent auditors and tax accountants to receive counsel regarding complex tax and compliance issues.
- Manages the Company’s information reporting program in a manner compliant with federal and state income tax law. Administers the Company’s annual information reporting program for independent consultants, reviewing and or responding to Notices and ensuring that the Company’s backup withholding list is properly maintained and updated.
- Manages Company state income tax audits completed in a manner that minimizes the Company’s state income tax liabilities and mitigates any related penalties.
- Assists with the Company’s large case coordinated IRS exam. Responds to document requests with appropriate information in a manner that minimizes the Company’s federal income tax liabilities and mitigates any related penalties. This requires extensive coordination and communication with various individuals in the Company' and an in-depth understanding of the organizations and tax laws.
- Reviews all revisions to the Mary Kay Career Essentials Tax Guide and to income tax-related articles that appear in various Company publications.
- Supervises the Income Tax team’s communication with federal and state governmental authorities.
KNOWLEDGE, SKILlS & ABILITIES:
Education: Master’s degree in Accounting, Economics, Finance or equivalent coursework required for Certified Public Accounting (CPA) Certification.
Experience: 7-10 years of progressive federal and multi-state tax experience, including supervisory experience. Public accounting experience beneficial.
- Ability to interpret tax laws and regulations; apply laws to the preparation of federal, state and other returns; and review tax returns and new legislation for potential tax savings opportunities.
- Ability to research and recommend tax strategies for existing and new U.S. operations; prepare and review the federal tax return and complex state tax returns; and prepare complex ASC 740 module on a quarterly basis.
- Ability to monitor the Companies' changing operations to ensure optimum tax planning strategies are utilized and effectively communicate tax effects to appropriate Corporate personnel.
- Ability to communicate effectively with various departments including Manufacturing, Marketing, IST and Finance and to supervise, counsel and develop department personnel.
- Ability to lead and develop a team of professionals, create and communicate an effective vision and foster employee buy-in.