Staff Level II Accountant - 1065 - Tax - AMD

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 both Real estate and operating partnership federal & state jurisdictions returns.
• Basic understanding of Temporary and permanent adjustments.
• Basic understanding of favorable and unfavorable adjustments.
• Book to tax adjustment for accruals and prepaids.
• Work on book to tax reconciliation (Sch M-1), depreciation computation (Form 4562) & supporting documents with adequate referencing (e.g. Applicability of Sec 179, 168(k) bonus depreciation and Regular MACRS depreciation.
• Working level experience on Gains and losses (Sec 1245, 1231, 1250 and 291)
• Amortization – Tax concept, applicability and eligible assets.
• Basic understanding of guarantee 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.
• Factors associated with A&A.
• Special allocations V / S default ratio allocations.
• 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 efile validation and diagnostics of returns and connect Go support for efile diagnostics clearing.
• Hands on experience on tools and applications.
• Basic understanding of CARES Act and its implication and application

Requirements :

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