This position will primarily support the Manager, Tax Planning and General Manager, Tax with respect to various business and tax initiatives, with a heavy focus on issues related to federal tax planning as well as the US federal tax audit. Contribute to the development of tax projects, and lead the successful implementation of such projects. Collaborate with all functions in tax to ensure tax reporting /compliance, accounting, and controversy aspects are appropriately assessed and documented. Research, analyze, and document transactions and assigned projects for proper application of US federal tax laws, as well as identify potential areas of exposure for US state and non-US tax issues. On an as-needed basis this individual will provide quantitative analysis to the Manager, Tax Compliance for quarterly and annual tax-related financial statements and US tax return filings.
"If a more senior candidate is identified for this role, the position will be modified to the Senior Tax Planning Analyst position. In general, a candidate for the more senior role would possess at least 8 years of experience."
The minimum number of job related experience required by this job is four years.
Assist the Manager, Tax Planning to identify and execute strategies to maximize both P&L and cash tax savings in conjunction with ongoing business activities as well as with respect to new business initiatives across all business operations and geographies. This includes, for example, providing Federal tax law information and interpretations to management by researching codes, rules and regulations to provide advice on technical tax ramifications; preparing strategic tax planning analysis, making recommendations for procedural changes, and managing the implementation of tax minimization strategies.
Assist the Manger, Tax Planning in managing the federal income tax audits for CITGO. This includes: (a) gathering information from various CITGO departments, analyzing the data for accuracy, correctness and tax implications, drafting written IDR responses and providing information to the IRS auditors within an agreed upon period; (b) maintaining tax calculations for any proposed or potential IRS adjustments, including “what if” scenarios to evaluate the financial impact of any potential IRS adjustments; (c) draft memorandums and calculations to assist in negotiating and settling IRS audit issues at the exam and appeals levels. On an as needed basis assist other tax groups with responses to audits, such as state and local income/sales/motor fuels taxes.
Assist the Manager, Tax Compliance with various components of the tax provision and return process such as: IRC Section 199 computations, Inventory (LIFO, FIFO, ACE) calculations, computations for R&D credit, Tangible Property Regulation deductions, etc.
Handle special projects. This includes items such as tax global hedging project, deferred tax projects, filing change of accounting method elections with IRS, analyzing changes to CITGO’s ccontracts for tax implications, determining the necessary data retention needs of the tax department, reviewing purchase price allocations, etc.
Stay current on industry developments and technical competencies using external resources and associations.
Manage relationships with outside tax service providers to ensure the service provider has all pertinent and current information required in order to successfully provide the most appropriate advice.