Description
Position Summary:
The Tax Specialist performs a variety of functions related to member tax reporting and escheatment processing. This position requires an advanced knowledge of regulatory and IRS requirements. In collaboration with other departments, this position ensures the completeness and accuracy of member tax reporting. This position is responsible for monitoring IRS updates to ensure proper procedures are in place for tax reporting purposes and mapping is correct for form creation. Responsibilities include updating tax records in the core operating system, in addition to the tax reporting software. This position uses sound judgment, professionalism, empathy, integrity, accuracy, verification and expediency in assisting members and employees.
Work Location
This position is a hybrid role with a combination of working both onsite at our Headquarters buildings in East Lansing and at offsite. A schedule of expected onsite and offsite work days will be discussed during the interview process.
Pay & Benefits:
Compensation range:
Tax Specialist: $26.50/hr+
Senior Tax Specialist: $29/hr+
100% Company-Paid Health, Dental, Vision, Life, and Long-Term Disability Premiums
Up to 26 days of PTO within your first year, as well as Volunteer Time Off & 11 Paid Holidays
401(k) with a 2:1 Match
Tuition Reimbursement
Up to 12 Weeks of Paid Parental Leave
Essential Duties and Responsibilities:
Tax Specialist
Perform account related research associated with tax reporting for employees and members with the appropriate sense of urgency
Assist members and employees by answering in-depth product and service questions relating to all share and specialty account types especially those pertaining to regulations, including tax implications and contribution limits, utilizing appropriate resources; possess strong knowledge of IRAs, HSAs, international accounts, trusts, deceased accounts and other specialized accounts and how they interact with tax reporting
Review consumer account paperwork for accounts opened at the Credit Union to ensure accuracy, checking for required documentation and making corrections as needed
Explain to members the process to retrieve escheated funds from the state of escheatment
Provide guidance to members and employees in the review of residency documents for international accounts, explaining the purpose with support from others. Work various reports to ensure that coding and reporting is accurate
Complete specialized account transactions and account set-up with support from others
Handle escalated member situations related to tax reporting or escheats with support from others and take appropriate action to resolve them
Interact with the IRS, courts and attorneys regarding complex requests that include legal concerns for consumer accounts with support; taking into consideration the risk associated with the account
Perform corrective reporting by correcting IRS records in the core and tax reporting system and producing new forms for members and the IRS, ensuring accuracy
Participate in projects, ensuring accuracy, thoroughness, attention to detail and that deadlines are met with help from others
Conduct account reviews to ensure accounts are properly reporting to the IRS in the defined timeframe
Design content and lead effective and engaging meetings and trainings involving employees from other departments to disseminate information regarding all member tax reporting and escheat topics
Collaborate with other departments of the Credit Union to ensure electronic and tax forms are current, the system is in compliance with regulations and system upgrades are performed as necessary
Work in collaboration with the vendor and other departments of the Credit Union to ensure escheated funds are reported and sent to the state of escheatment per regulation, taking ownership of the process, reporting errors and discrepancies
Participate in annual tax reporting process, reviewing system and vendor outputs for accuracy and identifying and correcting errors before final reporting. Conduct thorough reviews of annual tax form requirements, researching and providing feedback on changes affecting forms. Assist in tax mailing process as required.
Work directly with the tax vendor to ensure data is transferring appropriately and our information is displayed correctly within their system
Perform compliance and regulatory research, providing recommendations for any updates that need to be made to existing and new products, services and documentation due to current and pending regulatory requirements
Sort, distribute, and process department mail
Process document imaging with an emphasis on accuracy
Assist in process of imaging tax form corrections in a timely manner
Prepare and send Credit Union mailings with accuracy and attention to detail
Work a variety of reports; ensuring accuracy and timely completion
Senior Tax Specialist:
All of Deposit Operations Employee and Tax Specialist I duties and responsibilities
Take ownership of, and process, complex research requests related to tax reporting with urgency independently
Identify and communicate research related training opportunities, providing feedback and updating available resources
Serve as a resource by providing compliance related research and subject matter expertise for all member tax reporting forms
Provide expert level direction to members and employees regarding member tax reporting
Use in-depth knowledge regarding required residency documents for account opening for international accounts. Use expertise in setting tax withholding to assist members in their understanding of tax implications. Provide guidance to members and employees in the review of documents, explaining the purpose independently.
Work in collaboration with other departments of the Credit Union to... For full info follow application link.
Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities
