This role reports to the Director, Income Tax. Prepares and reviews quarterly income tax expense and effective tax rate calculation including accounting for uncertain tax positions and complying with tax-related SOX controls. Research complex tax issues and be a subject matter expert in a wide array of tax accounting subjects. Uses, improves, and maintains OneSource tax provision software tools and Alteryx Workflows.
What you will do - Essential Responsibilities
Prepare and review quarterly and annual income tax provision, effective tax rate, income tax footnotes under ASC 740 in accordance with SOX, and review 10K/10Q disclosures related to income taxes.
Prepare and maintain tax position documentation required under ASC 740-10-24 (Accounting for Uncertainty in Income Taxes).
Maintain OneSource tax provision software tools and support Alteryx Workflows. Identify and implement tax technology opportunities for process improvements, automation, efficiency gains, and application of tax process and technology best practices.
Perform various tax calculations including inventory, R&D tax credits, stock compensation, and intercompany management fees.
Prepare and document quarterly tax account reconciliations.
Research new tax legislation or tax issues related to new business initiatives.
Contribute to the development of team members by periodically reviewing others' work and providing feedback related to the work.
Purpose of the role
This role supports the Director of Tax and other department professionals in ensuring CarMax's compliance with income tax accounting provisions under ASC 740. This role works closely with other finance professionals, internal and external auditors, and the income tax compliance team. This position requires a detail-oriented professional with a strong knowledge of US GAAP and tax accounting. A key part of the role is to advise management on various aspects of corporate income taxation and help develop and implement accounting for income tax efficiencies. The ideal candidate will be highly motivated to keep current with new technologies, constantly striving for process improvement while meeting deadlines.
Qualifications and Requirements
Advanced federal and state income tax technical skills, specifically ASC 740 including accounting for uncertain tax positions.
Four or more years of income tax experience at a public accounting firm or in a corporate tax department.
Computer skills required in Microsoft Office (Excel and Word). OneSource Tax Provision, Alteryx, and Oracle experience highly preferred.
Degree in accounting and/or finance. Master's degree in accounting or taxation preferred.
CPA preferred but not required.
Ability to build and maintain strong relationships and motivate and lead others.
Ability to complete tasks while balancing time, multi-tasking and interruptions, deliver on objectives and meet deadlines.
Ability to use own experience to train, develop and mentor other associates.