US Tax Reporting Consultant

Role: US Tax Reporting Consultant
Location:   Address: 480 Washington Boulevard, Jersey City, NJ 07310
Duration: 6+ Months

Consultant who could help with Tax reporting for around 6 months starting from November.

Business wants to emphasize that they need to be really good at MS Excel skills as well.

 The consultant will be based at our NJ office and will have to come in person at least 4 days a week and could work from home for one

day.

 Responsibilities:

·         Perform tax-related reconciliations, data validation, issue resolution, and control activities to maintain reporting accuracy and operational integrity.

 In particular:

o Perform user testing for FIS Tax Reporting Solution. Examine source input/files vs. vendor produced output files and validate

expected 1099 and 1042-S results.

o Perform tax season check out. Examine source input/files vs. vendor produced output files and validated expected results.

Specifically for 1099-B, 1099-INT, 1099-DIV, 1099-MISC and 1042-S tax reports.

o Review FATCA/ NRA tax withholdings, including blended rates for intermediary entities, vs. vendor reporting output.

o Consult with Tax Documentation department to ensure documentation issues that may impact tax reporting and withholding

are remediated prior to year end.

o Support tax team in performing controls on data extracts from source systems to ensure accuracy and compliance with 1099,

1042-S and K1 nominee reporting.

Competencies, Skills and Qualifications:

Knowledge:

Extensive knowledge of:

o US tax reporting (1099 & 1042-S) requirements as it pertains to the banking industry.

o FATCA/ NRA US tax withholding requirements.

o W8 and W9 tax form requirements and validation, including W8-IMY Non- Withholding foreign partnership structure and

requirements.

Competencies:

o Experience in automating reporting processes and improving data quality controls.

o Understands and can interpret complex tax requirements.

o Strong problem solving and organizational skills.

o Ability to prioritize and multitask.

o Strong written and verbal skills to explain technical tax matters to both technical and non-technical audience.

o Ability to identify opportunities to increase efficiency and control and reduce costs.

 Technical Skills:

o Excel

o Access

o Preferred FIS Tax Reporting Module

 Qualifications (Experience, Education, Languages):

Experience: Minimum 5+ years US Tax Reporting in financial services operations (specifically forms US Tax forms 1099 and 1042-S)

Education: Bachelor’s Degree