JOB PURPOSE: Under general supervision, is responsible for moderate to complex projects associated with the maintenance of tax records and the preparation of specifically assigned federal and state tax returns and related reports for assigned mutual funds.
KEY RESPONSIBILITIES / DUTIES:
Prepares income, excise, and state tax returns for the mutual funds.
Periodically reviews portfolio holdings for PFIC, REIT, partnership, and complex and derivative securities.
Analyzes book/tax differences for impact on distributions and schedules differences for excise and fiscal years.
Analyzes excise and fiscal year wash sale loss reversals and disallows for the funds, distributions that qualify for the corporate dividends received deduction, the foreign tax credit, and other required fund tax calculations.
After each fund’s quarterly, semi-annual, and fiscal year ends, prepares work papers that lend support to the tax provision and to the tax footnotes in the financial statements.
Responsible for identifying limited partnership interests and determining the tax consequences and reporting requirements.
Maintains schedule concerning state tax reporting requirements relating to the holding of a partnership interest.
Responsible for researching and determining qualified foreign dividends and complex securities.
Responsible for calculating all qualified dividend distribution calculations for assigned mutual funds.
Review all foreign tax returns for accuracy and completeness and prepares returns and Power of Attorney required for foreign tax reclaims.
Responsible for preparation and/or review of RIC qualification for all assigned mutual funds.
Responsible for preparing schedules for any potential fund mergers. Including, but not limited to; pre and post retention analysis, analysis required under IRC Sections 381-384, capital gain/loss carry-over analysis and built in gains or loss analysis.
Responsible for calculation of ownership changes under IRC regulations.
Responsible for all earnings and profit calculations for assigned mutual funds.
Periodically reviews monthly tax work sheets that are prepared by fund accounting and reconciles these to the tax calculations.
Works on special projects (as needed).
Performs research of various federal and state tax issues to provide supported and sound conclusions to tax issues.
Responsible for recognizing and communicating opportunities for tax benefits/savings.
Responsible for maintenance of tax file room.
Complies with all internal controls.
Stays informed with tax industry updates and revisions
WORK EXPERIENCE / KNOWLEDGE:
Comprehensive tax experience and general knowledge of accounting are required.
Three years of experience in preparing federal income tax returns including those for corporations or mutual funds is required.
General knowledge of corporate financial accounting is required.
Experience with federal tax treatment of securities is preferred.
Two years of experience in tax research is required.
Other helpful experience includes exposure to mutual fund accounting.
Experience with tax software is preferred.
General knowledge of securities is helpful.
Basic business and accounting knowledge with the ability to apply both as they relate to federal tax reporting for corporations.
SKILLS / OTHER PERSONAL ATTRIBUTES REQUIRED:
Ability to communicate effectively across all mediums.
Organizational skills necessary to meet deadlines, prioritize projects, work independently, and process several projects simultaneously.
Ability to prepare with precision all types of tax returns and to perform related basic research.
Ability to learn rapidly and work well in a changing environment.
Proficiency in Excel is required.
BA/BS in accounting with taxation courses or equivalent experience is required.
Designation as Certified Public Accountant is preferred.
COMPETENCY REQUIREMENTS – INVESCO CORE:
We are passionate about our clients’ success
Working together, we achieve more
We believe in the continuous pursuit of performance excellence
We earn trust by acting with integrity
People are the foundation of our success
Disclaimer: The above information on this description has been designed to indicate the general nature and level of work performed by employees within this classification. It is not designed to contain or be interpreted as a comprehensive inventory of all duties, responsibilities and qualifications required of employees assigned to this job. Incumbents may be required to perform other duties as deemed appropriate by the supervisor from time to time.
Invesco’s culture of inclusivity and its commitment to diversity in the workplace are demonstrated through our people practices. We are proud to be an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, gender, gender identity, sexual orientation, national origin, disability, age, or veteran status.