Staff Level II Accountant - 1065 FS - Tax

Withum; Bengaluru; On-site; INR 500,000 - 800,000; Full time

Job summary

A leading accounting firm in Bengaluru is looking for an Associate to join their Tax Services Group. The role involves preparing Partnership returns and requires a solid background in US Taxation. Ideal candidates should have good communication skills, a collaborative mindset, and the ability to manage multiple tasks effectively. This is a full-time position offering great growth opportunities and a professional work environment.

Qualifications

• 2+ years in US Taxation is preferred.
• Demonstrated integrity and collaborative mindset.
• Ability to maintain client confidentiality and professionalism.

Responsibilities

• Prepare form 1065-Partnership returns for various funds.
• Assess tax allocations and perform self-review of work.
• Document open items and update reviewer on tasks.
• Work on multiple projects and meet deadlines.

Skills

Good communication skills

Team player

Tax knowledge

Analytical skills

Job description

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Withum is a place where talent thrives - where who you are matters. It’s a place of endless opportunities for growth. A place where entrepreneurial energy plus inclusive teamwork equals exponential results. Withum empowers clients and our professional staff with innovative tools and solutions to address their accounting, tax and overall business management and operational needs. As a US nationally ranked Top 25 firm, we recruit only the best and brightest people with a genuine passion for the business.

Withum’s Tax Services Group is made up of a brilliant team of tax specialists that work to ensure tax reporting obligations are met in an accurate and timely manner and minimize or defer the payment of taxes. Their comprehensive understanding of international, US federal, state, and local regulations, counting our affiliation with HLB international, allows them to help develop economical tax strategies anywhere. Their services include Business, Individual, State & Local tax, R&D Tax Credit, as well as International and Private Client services.

Withum’s brand is a reflection of our people, our culture and our strength. Withum has become

synonymous with teamwork and client service excellence. The cornerstone of our success can truly be accredited to the dedicated professionals who work here every day, easy to work with a sense of purpose and caring for their co-workers and whose mission is to help our clients grow and thrive. But our commitment goes beyond our clients as we continue to live the Withum Way, promoting personal and professional growth for all team members, clients, and surrounding communities.

How You’ll Spend Your Time:

• Preparation of form 1065-Partnership returns for Hedge Funds, Private Equity, Venture Capital Funds, Fund of Funds (federal & state jurisdictions returns).
• Basic knowledge of tax allocations, waterfall, carry, instalment Sales.
• Basic understanding of derivatives. Basic understanding of Temporary and permanent adjustments.
• Basic understanding of favorable and unfavorable adjustments.
• Basic understanding of Sec 163J and Sec 199A.
• Basic understanding of Schedule M-1, Schedule M3.
• Basic understanding of types of investors (Limited and General Partners).
• Basic understanding of Management companies, GP entities.
• Book to tax adjustment for accruals and prepaids.
• Depreciation & Amortization – Tax concept, applicability, and eligible assets.
• Basic understanding of Guaranteed payment tax treatment.
• Reference IRC codes & preliminary source for any new book to tax differences identified in supporting workpapers.
• Basic understanding of State tax returns, e.g., common state adjustments, Allocation and Apportionment (A&A).
• Ability to differentiate between Allocation of income and Apportionment of income.
• Clear understanding of partners tax capital accounts.
• Ability to perform proper self-review of work before moving the task for review.
• Document open items and share updates with reviewer in completing tax returns within set deadlines.
• Ability to work on multiple projects simultaneously and correspondence with aligned reviewer on status.
• Knowledge of e-file validation and diagnostics of returns and connect Go support for e-file diagnostics clearing.
• Hands on experience on tools and applications (Allocation work papers, aggregates as applicable).
• Basic understanding of CARES Act and its implication and application.

Requirements:

• Experience: 2+ years in US Taxation.
• The candidate should possess good communication and drafting skills with a work-based demonstrated affinity in pursuing a career in customs matters.
• The candidate should demonstrate integrity and energy and possess independent working ability and have a collaborative mindset.
• Active communicator and a great team player.
• Ability to plan, prioritize, and organize work effectively.
• Ability to balance many projects simultaneously.
• Ability to work under pressure and time deadlines.
• Ability to work independently.
• Ability to be flexible with scheduling to meet workflow demands.
• Ability to present a professional appearance and demeanor.
• Ability to maintain client confidentiality, personal objectivity, and professional skepticism.

Website: www.withum.com

Withum will not discriminate against any employee or applicant for employment because of race, color, religion, sex, sexual orientation, gender identity, national origin, age, marital status, genetic information, disability or because he or she is a protected veteran.

Seniority level

• Seniority level

  Associate

Employment type

• Employment type

  Full-time

Job function

• Job function

  Accounting/Auditing

• Industries

  Accounting

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