Tax Manager (Upstream Oil and Gas)

Lake Highlands Consulting; Fort Worth (TX); On-site; USD 90,000 - 130,000; Full time

Job summary

Lake Highlands Consulting is seeking a Tax Manager to join our finance team in Fort Worth, TX. The role collaborates with the Tax Director on tax review and compliance for private equity and individual investors, including data pull for outsourced work and GAAP period entries.

The Tax Manager will help prepare quarterly estimates, manage K-1 distributions, and assist with journal entries, including property tax accruals and income tax provision. Strong communication is essential.

Qualifications

• Bachelor's degree in accounting required; master's in tax/accounting and CPA preferred.
• CPA certification expected or in progress.
• Minimum four years of tax experience in a midsized to major firm or corporate tax department.
• Proficient in Excel and tax provision processes.
• Knowledge of federal/state tax code and oil & gas tax provisions.

Responsibilities

• Assist Tax Director with quarterly tax estimates and annual federal/state tax returns.
• Prepare PBC workpapers; review returns and K-1s for accuracy.
• Distribute K-1s and tax estimates to partners; respond to tax questions.
• Maintain tax basis and book basis balance sheets and holding periods.
• Coordinate with tax consultants on sales tax compliance and monthly accruals.
• Work with property tax consultants on ad valorem taxes and renditions.
• Coordinate with Revenue team on Production Tax filings and R&D credits.
• Assist with 1099 compliance and partnership agreement analyses.
• Research tax issues using RIA Checkpoint and document memos.

Skills

Investor relations

Communication

Judgement

Tax knowledge

Research & analytics

Education

Bachelor's degree in accounting

Master's in tax/accounting

CPA certification

Tools

Excel

RIA Checkpoint

Job description

The Tax Manager position will be a pivotal role in the finance and accounting department. This position will work closely with the Tax Director and focuses on tax review and compliance for private equity and individual investors. This position will assist with pulling tax data for various outsourced consulting work and reviewing for reasonableness. Additionally, the Tax Manager position will help with various tax related journal entries for period GAAP entries – including property tax accruals and income tax provision.

Key Roles

• Assist the Tax Director with the preparation of quarterly tax estimates and timely filing of tax returns for annual compliance, both Federal and State – utilizing the outsourced tax accounting firm.
• Compile PBC workpapers for tax firm. Review tax returns and K-1s for accuracy.
• Distribute K-1s and tax estimates to list of partners and populate Private Equity templates. Respond to any tax questions from partners.
• Maintain Tax Basis and Book Basis Balance Sheets and holding period of assets. Track 704(c) layers and traditional methods for contributed assets
• Coordinate with tax consultants for Sales Tax Compliance filings, calculate monthly sales tax accruals and mitigate overpayments to vendors and apply for refunds. Work with the Operations team/vendor to implement changes and improve invoicing to reduce taxes.
• Leverage property tax consultants to track locations and onboard Real Property and Ad Valorem Taxes and timelyfurnishdetails to property tax consultants tominimizeassessments during the rendition process.
• Partnerwith the Revenue team to help prepare Production Tax filings.
• Coordinate with all departments to ensure proper R&D Credit treatment.
• Assist with 1099 compliance.
• Analyze partnership agreements, like-kind exchange agreements and divestment documents for tax treatment.
• Periodically research tax issues on RIA Checkpoint and document in tax memos, including NM, OK and TX reporting requirements.

Soft Skills

• Professional investor relations for tax requests.
• Excellent communication and interpersonal skills for interactions with internal and external stakeholders. Ability to competently relay tax solutions with employees at all levels of the company.
• Ability to exercise sound judgement with prioritizing workflow and deadlines.
• General knowledge of federal and state tax code and regulations. Strong research and analytical skills.

Education and Experience

• Bachelor’s degree in accounting is required
• Masters in tax/accounting and CPA certification is required
• At least four years of tax experience with a midsized to major accounting firm or corporate tax department
• Strong computer skills, including proficiency in Excel
• Basic understanding of tax provisions and oil and gas accounting is required
• Experience with partnerships is preferred
• Experience managing either staff and/or consultants is preferred