Job Description
Job Description
Tax Team is responsible for preparation and filing of Federal, State and International Tax returns. Team is also responsible for preparation of Book to Tax Adjustments and various other workpapers required for preparation of returns. In addition to this, team work's with the finance team to gather the information required in the process. They are also dealing with the tax authorities for their queries. In addition they are also involved with the AFIT & Forecasting group where they work closely with the legal entity forecasts counterparts and reviewing the forecasted legal entity effective tax rate for the respective legal entity sub consolidation rollup point(s) assigned. They are also responsible for compiling the Accounting for Income Tax reporting package, consolidated review of State Analytic and NUSInS. And based on books close they provide the tax information for legal entity financial reporting requirements to finance as well as regulatory reporting teams.
Responsibilities
• Assist in preparation and review of Form 1120, United States Corporate Income Tax Return, filed annually with the Internal Revenue Service
• Assist in preparation and review of corporate income tax returns for all 50 states and cities/municipalities
• Prepare and review federal book to tax adjustments often called “M-1s” that are part of the Form 1120.
• Calculate year-end and quarterly M-1s for provision and forecast calculations
• Prepare United States Forms 5471, 8621, 8858, 8865 with required disclosures and statements
• Calculate Subpart F income adjustments and other deemed foreign inclusions to U.S. taxable income
• Assist with year-end and quarterly income tax provision calculations including analysis of US GAAP (book) tax expense
• Request various legal, financial, and tax information from Bank of America tax planning teams and foreign finance team members
• Assist with year-end and quarterly income tax provision calculations including analysis of US GAAP (book) tax expense
• Ability to use Microsoft Excel, Word, PowerPoint in everyday activities
• Reporting for all legal entity sub consolidations, including legal entity tax expense recorded, variance analysis, deferred reporting.
• Legal entity Tax forecasting basis CCAR and Basel III norms
• Review tax journal entries computed for tax expense and deferred for each legal entity sub consolidation and confirm the tax entries have been recorded properly in the GL which include reviewing the reasonableness of book adjustments, permanent and temporary differences, including performing variance analysis and monitoring forecast .
• Review legal entity sub consolidation tax account analysis on a monthly basis.
• Review and confirm that FIN 48 is properly computed and reported.
• Review and sign off of Annual Tax Expense True-up and variance explanations at legal entity sub consolidation level.
• Preparation of footnote for sub consolidation legal entity Audited Financial Statement filers, regulatory filers and FDICIA reporting
Work Timings
11.30 AM to 08.30 PM (+ hrs shift)
Job Location
Gurugram / Mumbai
Tax Team is responsible for preparation and filing of Federal, State and International Tax returns. Team is also responsible for preparation of Book to Tax Adjustments and various other workpapers required for preparation of returns. In addition to this, team work's with the finance team to gather the information required in the process. They are also dealing with the tax authorities for their queries. In addition they are also involved with the AFIT & Forecasting group where they work closely with the legal entity forecasts counterparts and reviewing the forecasted legal entity effective tax rate for the respective legal entity sub consolidation rollup point(s) assigned. They are also responsible for compiling the Accounting for Income Tax reporting package, consolidated review of State Analytic and NUSInS. And based on books close they provide the tax information for legal entity financial reporting requirements to finance as well as regulatory reporting teams.
Responsibilities
• Assist in preparation and review of Form 1120, United States Corporate Income Tax Return, filed annually with the Internal Revenue Service
• Assist in preparation and review of corporate income tax returns for all 50 states and cities/municipalities
• Prepare and review federal book to tax adjustments often called “M-1s” that are part of the Form 1120.
• Calculate year-end and quarterly M-1s for provision and forecast calculations
• Prepare United States Forms 5471, 8621, 8858, 8865 with required disclosures and statements
• Calculate Subpart F income adjustments and other deemed foreign inclusions to U.S. taxable income
• Assist with year-end and quarterly income tax provision calculations including analysis of US GAAP (book) tax expense
• Request various legal, financial, and tax information from Bank of America tax planning teams and foreign finance team members
• Assist with year-end and quarterly income tax provision calculations including analysis of US GAAP (book) tax expense
• Ability to use Microsoft Excel, Word, PowerPoint in everyday activities
• Reporting for all legal entity sub consolidations, including legal entity tax expense recorded, variance analysis, deferred reporting.
• Legal entity Tax forecasting basis CCAR and Basel III norms
• Review tax journal entries computed for tax expense and deferred for each legal entity sub consolidation and confirm the tax entries have been recorded properly in the GL which include reviewing the reasonableness of book adjustments, permanent and temporary differences, including performing variance analysis and monitoring forecast .
• Review legal entity sub consolidation tax account analysis on a monthly basis.
• Review and confirm that FIN 48 is properly computed and reported.
• Review and sign off of Annual Tax Expense True-up and variance explanations at legal entity sub consolidation level.
• Preparation of footnote for sub consolidation legal entity Audited Financial Statement filers, regulatory filers and FDICIA reporting
Work Timings
11.30 AM to 08.30 PM (+ hrs shift)
Job Location
Gurugram / Mumbai
💡 Quick Summary
Seeking a career-building opportunity? The Team Leader position is now open for candidates interested in the Bank Jobs sector. This role in Mumbai offers a professional environment and growth potential.
Requirement Snapshot: Candidates should possess basic communication skills, a proactive attitude, and the ability to work in a team. Experience in Bank Jobs is a plus.