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Tax Supervisor
Tax SupervisorRea • Provo, UT, US
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Tax Supervisor

Tax Supervisor

Rea • Provo, UT, US
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Tax Supervisor

Rea is a growing Top 100 business advisory & accounting firm providing our clients services in tax, accounting, and business consulting. We have a 'People First' culture and we focus on our employees' well-being and professional development. With over 400 professionals, our firm has a culture that respects a work-life balance for our team. We also provide competitive compensation and a robust benefits plan.

The Tax Supervisor is responsible for utilizing research skills, applying tax foundational knowledge to understand potential tax issues, gathering client information necessary for filing, participating in tax planning, recognizing and communicating potential risks, preparing tax accrual work papers, and working with tax software applications to complete tax returns for review. The Supervisor is also responsible for coordinating with the manager and principal and then advising clients on the tax implications of their business objectives, evaluating and selecting alternative actions to lessen tax burden and cost of compliance, identifying different methods of complying with tax regulations while acting as the primary client contact for complex tax issues. In this role, the Tax Supervisor is charged with applying knowledge to understand potential tax issues and recognizing and communicating potential risks and potential changes in the tax policy. In addition, the Tax Supervisor will be involved in growing their marketing, networking and business development within an area of expertise and specialization and may be asked to provide written tax advice to clients.

Responsibilities

Control Environment

  • Applies knowledge and understanding of the collective effect of various factors on establishing or enhancing effectiveness, or mitigating the risks, of specific policies and procedures by :
  • Applies knowledge of transactional flow and key transactional cycles to complete audit work
  • Documents, validates and assesses the design and operating effectiveness of the clients' internal control system
  • Identifies and communicates suggested improvements to client internal controls and accounting procedures in an effort to reduces risk within the client organization
  • Supervises and reviews the work of audit staff

Tax Compliance

  • Ensures both that (a) clients comply with all applicable authorities, while at the same time minimizing their tax and reporting burdens, and (b) self and client service teams comply with all Firm policies, standards, and the Rea's tax quality control policies
  • Conducts top level review of T / R and resolves all tax issues with client; involves specialists where appropriate
  • Communicates with client and Assurance any issues identified in tax accrual reviews
  • Plans and reviews the tax process and the procedures to be performed to include :
  • Budgeting and staffing
  • Monitoring engagement process and actual time incurred vs. budget with assistance of Senior
  • Timely billing including management of identified out-of-scope activity and communication to client
  • Timely collection of A / R
  • Manages client relationships / expectations in accordance with the project
  • Provides advice to clients in a timely manner
  • Research

  • Identifies when research is needed; clearly and concisely frames issues to be researched; and clearly and concisely reports the analysis
  • Applies most Firm and professional standards for preparation of WTA ("Written Tax Advice") and tax returns
  • Involves firm specialists, as appropriate
  • ASC 740-10 (FAS 109 and FIN 48) Tax Accruals

  • Correctly and proactively applies Firm policies, standards, and Rea's tax quality control policies regarding FAS 109 and FIN 48
  • Applies, correctly and proactively, ASC 740-10, and Firm policies, standards, and BDO TQM regarding them
  • Explains and discusses components of the income tax provision and uncertain tax positions to the client as well as other complexities surrounding ASC 740-10
  • Communicates with Assurance counterparts to timely plan tax accrual reviews, including budget, scope and delivery dates
  • Utilizes and manages STS (specialized tax services), as needed
  • Prepares provision workpapers and discusses with the appropriate team members
  • Identify and discuss uncertain positions with team members
  • Review & prepare footnote disclosures in compliance with 740-10-55
  • Tax Consulting

  • Assists with developing, recommending, and implementing efficient and effective methods to maximize client benefits, especially by decreasing clients' current and future taxes
  • Considers the applicability of CTS (core tax services) and STS consulting specialties for each client
  • Develops and implements a work plan to include / organize the STS assistance on ongoing projects from client
  • Serves as a technical resource
  • Ensures client service teams comply with Firm policy; regarding Written Tax Advice ("WTA")
  • Provides effective assistance with exam support
  • Frames projects and issues for effective delegation to seniors and associates
  • Identifies consulting opportunities to reduce client's tax liability
  • Provides efficient and effective support for client consulting projects
  • Gathers relevant information for controversy work, efficiently and effectively
  • Documents all significant tax positions, clearly, correctly, and in accordance with Firm and office policies (by creating memorandums to the files Tax issues Memos) and ensures that proper documentation is archived to GoFileRoom
  • GAAP

  • Applies knowledge and understanding of governing principles; applying these principles to client transactions; and documenting and communicating an understanding and application of these principles by :
  • Communicating financial statement disclosure requirements to clients
  • Drafting complex sets of financial statements with disclosures if applicable
  • Recognizing and applying new pronouncements to client situations
  • Identifying complex accounting issues and brings them to the attention of superiors for resolution
  • Coaching less experienced team members in new areas
  • Research

  • Applies methodology used to seek or maintain information from authoritative sources and to draw conclusions regarding a target issue based on the information by :
  • Utilizing of internal and external research tools and selecting methodology for routine research requests
  • Researching complex areas of accounting, forming an initial opinion on the correct treatment independently and considering and documenting the impact on the client and audit engagement
  • Documenting and organizing complicated findings in a usable format, based on information obtained from various research resources
  • Assisting the engagement manager with gathering appropriate information about the business and information system, including the accounting system, to form an adequate basis for the preparation of the audit strategy
  • Developing the draft Audit Engagement Planning Memorandum, audit programs and budgets
  • Collaborating with the engagement manager to establish the responsibilities of individual audit staff for specific areas of audit work
  • Identifies when research is needed; clearly and concisely frames issues to be researched; and clearly and concisely reports the analysis
  • Applies most Firm and professional standards for preparation of WTA (Withholding Tax Allowance) and tax returns
  • Tax Specialization

  • Develops an in-depth understanding of the technical and practical issues and opportunities regarding one or more areas of taxation, e.g., individual, corporate, property, sales, corporate, pass-through, state and local, international, expatriate, transfer pricing, credits and incentives, compensation and benefits, accounting methods, R&D tax benefits
  • May be required to organize and conduct effective internal CPE training sessions in area of specialization, involving Firm specialists
  • Strategy Development

  • Introduces and develops new or improved ideas to improve the position of clients, the Firm, or Firm personnel, e.g., by reducing taxes or expenses or providing non-tax benefits
  • Reviews studies of tax implications and offers clients alternative courses of action
  • Identifies and leverages lessons learned on prior projects, and offers input on how to improve processes and methods
  • Supervisory Responsibilities

  • Supervises associates, senior associates and supervisors on all projects
  • Reviews work prepared by associates, senior associates and supervisors and provide review comments
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