Senior Income Tax Analyst

Xcel Energy•Minneapolis, MN

3d•Onsite

About The Position

This position may be filled at either the Senior Income Tax Analyst or Income Tax Compliance Consultant level, depending on the successful candidate’s background and years of experience. The Senior Income Tax Analyst Position Summary is to assist at a higher level the Director or Manager, Income Tax Compliance & Accounting in the areas of filing the corporate federal and state income tax returns and extensions, the computation of estimated tax payments, and the computation and reporting of income tax accruals. The Income Tax Compliance Consultant Position Summary will lead and coordinate the Income Tax Compliance & Accounting group's efforts to provide accurate and timely income tax reporting information and analysis through the use of efficient and effective processes. The position will provide high-level technical expertise and leadership in all income tax accounting matters, and will coordinate the handling of reviews performed by internal and external financial auditors for GAAP, Regulatory, and Sarbanes-Oxley purposes. The position will also coordinate efforts to file and defend the corporate federal and state income tax returns and the computation of estimated tax payments.

Requirements

Bachelor's degree in accounting.
Four years' experience in income tax compliance and accounting.
Appropriate experience would include: -Current and deferred income tax accruals and financial statement presentation - Consolidated federal and unitary state tax return preparation - Estimated federal and state income tax payment calculations - Income tax research and analysis with references to authoritative tax literature
4-7 years of related experience with large corporate income taxes.
Demonstrates ability to effectively communicate information and recommendations to department management.
Effective at giving and receiving information in individual or group situations.

Nice To Haves

Candidates with a Master's Degree or certification such as CPA, CMA, CFA, etc or investment banking or public accounting background may be granted years of experience to reach the 4-year minimum.
Master's Degree (i.e. Master of Business Taxation) or equivalent license or certification (i.e. CPA).
Large advisory, accounting firm, or other relevant experience.

Responsibilities

Participates at a higher technical level in the determination of the monthly tax accruals to ensure compliance with IRS, GAAP, Sarbanes Oxley, and regulatory income tax accounting and public utility normalization requirements.
Participates at a higher technical level in the preparation of all required federal consolidated and state income tax returns and claims for refund to ensure accurate and timely filing and minimization of tax liability.
Assists in preparation of quarterly estimated federal and state income tax payments in a manner that minimizes company cash requirements. Includes allocation or distribution of payment obligation among companies in affiliated group.
Prepares or assists in preparation of estimates and projections of income taxes for budgeting purposes, rate filings, and cash forecasts.
Keeps abreast of current changes in tax laws, regulations, and rulings by ongoing reading and research to maintain the ability to inform the Director or Manager, Income Tax Compliance & Accounting of the nature and effect of changes and if appropriate, recommend courses of action.
Performs other duties and assumes other responsibilities as apparent or as assigned.
Participate at a high technical level in the computation, recording and documentation of current and deferred tax accruals to ensure compliance with IRS, GAAP, regulatory income tax accounting and public utility normalization requirements and the Sarbanes-Oxley provisions. Coordinate the department's efforts in this area and consolidate the results.
Coordinate and assist with the audit of income taxes by external financial auditors.
Coordinate the preparation and timely filing of all federal and state income tax returns. Participate in review of returns, prepare consolidations where applicable, and assist with analysis of results.
Demonstrate an in-depth knowledge of federal, state, and international (as it applies to U.S. tax filings) income tax laws and regulations.
Coordinate the preparation and review of quarterly estimated federal and state income tax payments in a manner that minimizes company cash requirements.
Represent the company to tax authorities in regard to tax return matters through the administration of the audit process.
Provide timely responses to IDRs, and coordinate other efforts to keep ongoing audits current.
Facilitate the resolution of issues to attain the lowest fair tax payable.
Provide in-depth research, experience and creative thinking to the process of gathering facts, evaluating alternative positions, and determining strategies.
Direct the day-to-day activities of the income tax analysts and senior analysts and assist in coordinating the overall activities of the Income Tax Compliance and Accounting group.
Secure assistance and manage, to the extent possible, projects involving persons outside the department including external consultants.
Keep abreast of current changes in tax laws, regulations, and rulings. Demonstrate ability to inform department management of the nature and effect of changes and if appropriate, recommend courses of action.
Monitor and evaluate initiatives and trends that impact the industry.
Develop and maintain contacts both inside and outside the company for purposes of seeking out tax minimization opportunities.