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Wealth Management Assistant Tax Officer

POSITION SUMMARY:
This Wealth Management Assistant Tax Officer is responsible for review and preparation of 1041 trust income tax returns, 1099's and 1040 tax returns. Review, prepare and file tax returns for approximately 2,200 accounts. Support and advise Sales and related support staff on client related issues.
DUTIES/RESPONSIBILITIES:
Review tax details throughout the year for appropriate tax coding, beneficiary information and taxability to be determined items, resolving any discrepancies that exist
Assisting with the review, preparation and filing of the 1099's, Grantor Trusts and Irrevocable Trusts processed by the Tax Department
Monthly review of the banks Common Trust Funds in order to calculate the factors that need to be entered into our tax processing system, OneSource Trust Tax
Design, create, modify and maintain registers and downloads on OneSource and FIS to query and update the databases and also produce various reports as needed for tax processing
Review account and transaction data loaded to OneSource each month and initiate any updates or corrections as needed
Assist coworkers in annual factoring of common funds and 900+ securities
Research all limited partnerships set up on FIS to determine if they need to be sent to Wall Street Concepts for production of a Schedule K-1, then process all qualifying limited partnerships through Wall Street Concepts
Maintain a log of return processing throughout the annual tax cycle in order to account for all accounts and provide status update information for reference by Sales staff.
Prepare 1040 personal income tax returns for clients as requested by Wealth Managers
Prepare more difficult estate 1041 and final 1040 income tax returns (death processing)
Research and reply to any correspondence received from the Internal Revenue Service, State Department of Revenue, or Wealth Managers. Keep Management and related Sales staff informed of status and liability.
Train Sales and/or Middle Office staff on tax administration issues, transaction coding, current tax issues and procedures specific to tax information processing.
Assist with the preparation of the quarterly 1041 fiduciary income tax estimates and work with Trust Officers on tax related issues
Participate in all required training sessions for compliance. Maintain adequate controls to ensure compliance with consumer protection statutes/regulations in a defined area of responsibility. Implement bank-directed policy and changes relating to regulatory amendments.
Identify, prepare and submit successor trustee correspondence to the IRS as needed
Review new account and security setup on accounting system to ensure tax specifics are accurate and to control tax processing costs by determining which accounts don't need tax processing
Monitor pending tax refunds and verify their receipt
#CB
#LI-LC1RequirementsREQUIRED EDUCATION, EXPERIENCE AND SKILLS:
Four-year accounting or business degree
Four or more years experience in individual and fiduciary tax return preparation
Demonstrated ability to work well with others
Good verbal and written communication skills
Extensive knowledge and use of Company computer-based work tools and software
Ability to perform at a high level in the demanding environment of the tax processing season
Attentive to detail
Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities.
Please view Equal Employment Opportunity Posters provided by OFCCP here.
The contractor will not discharge or in any other manner discriminate against employees or applicants because they have inquired about, discussed, or disclosed their own pay or the pay of another employee or applicant. However, employees who have access to the compensation information of other employees or applicants as a part of their essential job functions cannot disclose the pay of other employees or applicants to individuals who do not otherwise have access to compensation information, unless the disclosure is (a) in response to a formal complaint or charge, (b) in furtherance of an investigation, proceeding, hearing, or action, including an investigation conducted by the employer, or (c) consistent with the contractor's legal duty to furnish information.
EOE/Minorities/Females/Vet/Disability

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