Tax Analyst, Investment Office

University of Chicago•Chicago, IL

1d•$65,000 - $80,000•Onsite

About The Position

Reporting to the Tax Manager in Financial Services, this Tax Analyst sits in the University’s Investment Office and owns the tax data that feeds the Form 990-T. The day-to-day work centers on tracking K-1s, computing federal and state tax liabilities, maintaining investment related tax records, and preparing tax disclosures. The Tax Analyst serves as one of the University’s representatives to external fund managers and advisors on all tax data matters.

Requirements

Minimum requirements include a college or university degree in related field.
Minimum requirements include knowledge and skills developed through 2-5 years of work experience in a related job discipline.

Nice To Haves

Master’s degree in accounting (MSA), taxation (MST), or MBA with a concentration in accounting.
At least two years of professional experience in tax compliance, public accounting, or in an in-house tax department preferred.
Work in a university, endowment, or institutional investment environment.
CPA or CPA-eligible; Enrolled Agent (EA) also valued.
Exposure to alternative investments and endowment-related tax matters.
Partnership tax and/or international tax experience is strongly preferred.
Understanding of alternative investments and K-1 analysis.
Familiarity with UBTI concepts, Form 990-T, or Form 4720.
Exposure to international informational filings (Forms 5471, 8865, 8858, 926, 8621) and Subpart F or GILTI calculations.
Familiarity with UBTI rules, the siloing rules and related NOL tracking, and the NII excise tax.
Understanding of tax software, including K-1 aggregation software.
Strong proficiency with Excel.
Comfortable reading and interpreting the Internal Revenue Code, Treasury Regulations, IRS form instructions, revenue rulings, and revenue procedures.

Responsibilities

Monitors the receipt of Schedules K-1 from the University's investment partnerships and funds.
Reviews K-1s for items relevant to unrelated business taxable income (UBTI) and net investment income (NII).
Reconciles K-1 data against internal investment records and follows up with fund managers and administrators for clarification.
Computes UBTI from partnership activities, including debt-financed income and other items reportable on the 990-T.
Applies the UBTI siloing rules to separately track income and loss by trade or business.
Maintains silo-by-silo net operating loss records.
Computes the NII for purposes of the excise tax on certain private university endowments (Form 4720).
Tracks the components of NII across the investment portfolio.
Maintains and updates the tax basis of all investments across the portfolio, tracking capital contributions, distributions, and adjustments.
Serves as the University's primary point of contact with external fund managers, fund administrators, and tax advisors for gathering and analyzing tax data.
Works with the University's custodian bank on tax reporting for daily valued investments.
Captures key information for new investments, including entity treatment for U.S. tax purposes, domicile, and tax reporting provided by the fund, to ensure accurate and comprehensive tax reporting.
Prepares international informational filings related to the investment portfolio, including Forms 5471, 8865, 8858, 926, and 8621.
Conducts Subpart F income and GILTI calculations.
Prepares schedules, workpapers, and supporting documentation that feed into the Form 990-T.
Works with the Tax Manager and external tax preparers during the filing process.
Works alongside the Investment Office team day-to-day to understand portfolio activity, new fund commitments, dispositions, and other transactions with tax implications.
Prepares miscellaneous state income and franchise tax returns arising from the University's investment activities, including returns triggered by fund allocations of state-source income.
Assists with other investment-related tax compliance as assigned.
Keeps up with changes in tax law affecting tax-exempt organizations, partnership taxation, and international taxation.
Participates in special projects as requested by management.
Performs a variety of operating or cost accounting activities which require moderate knowledge of accounting theories and principles.
Interprets accounting records for the purpose of determining gains and losses, receipts and disbursements, and inventory.
Performs other related work as needed.