Fulfills the commitments in the transactions on-boarding document related to the responsibilities of the Tax Matters partner for tax equity transactions. Reviews the HLBV models and tax elements of non-controlling interest. Reviews the activity and forecasts of the non-utility entities for tax related consequences and summarizes results to be included in the recording tax liabilities under ASC 740 and 810. Prepares or provides information to the tax prepares for the tax equity transactions' federal and state tax returns.
Tasks and Responsibilities
Reviews and understands the research and tax interpretation underlying the tax equity transactions and reviews the HLBV and financial models underlying the Company's financials and compliance requirements.
Performs research and interprets new federal and applicable state income tax codes and regulations effect upon the tax equity transactions, compliance requirements and the impact in the financial statements of company.
Performs quantitative analysis to validate the anticipated tax consequence of tax equity transactions in optimizing and monitoring processes needed to complete the Company's income tax returns and financial statement tax provisions.
Conducts detail review or prepares the tax equity transaction federal and multi-state tax returns. Prepares the monthly and annual ASC 740 and 810 tax provisions for tax equity and partnership investments. Completes associated annual tax reconciliations Tax Basis Balance Sheets, Property Tax Basis, and Deferred Inventory.
With review, completes the responsibilities outlined in the on-boarding document for each transaction specifically the Notice of Tax Extension, Tax Estimates, Draft Final Tax Return, Tax Return Filing, and Annual ITC Reconciliation/Reporting to the Program Director, Portfolio Investments and Furnish Tax Returns to Parties to the agreement.
Notifies Program Director, Portfolio Investments of inquiries from tax authorities for coordination with the other parties as provided in the tax equity agreements. Prepares the draft response to inquiries from internal and external auditors justifying underlying tax accounting theory involved in tax reporting for review responses the Senior Tax Manager and Director of Tax Planning and Strategy.
Prepares and documents all controls related to the tax equity investments and other non-utility investments.
Participates in the establishment of and training others in new procedures and systems.
Prepares schedules and rolls forward the tax equity transactions' tax basis balance sheets, capital accounts and compilation of Schedule M's.
Analyzes the results of the financial reporting process, including preparation of supporting schedules and account reconciliations for monthly variance analysis, audit committee meetings and the 10Q and 10K for the tax equity transactions effects.
Assists the Tax Department with projects as needed.
Qualifications, Skills and Abilities
Bachelor's Degree in Accounting or related field required
Master's Degree preferred
5+ years-experience in a corporation, partnership or an accounting firm, with demonstrated knowledge and experience in the tax accounting, provision and compliance for both tax equity transactions and partnerships required
Demonstrated extensive working knowledge of and ability to apply, interpret, and document the Federal and applicable-state income tax codes and the regulations related to complex accounting and tax transactions, including the, review and validation of related financial models
Demonstrated ability to evaluate accounting transactions and the corresponding tax implications, both hypothetical liquidation book value (HLBV) and on-boarding actual tax equity transactions
Proven ability to use computer software and applications, including Microsoft Office (intermediate level Word and Excel, common ERP applications, query and reporting tools, tax provision software, etc.), to share, retrieve, research and present business information
Demonstrated extensive working knowledge of tax implications of partnership recapitalization and revaluations, distributions and associated basis adjustments; sales of partnership interests; and debt allocations
Demonstrated ability to establish rapport and effective working relationships with business partners, supervisors and peers
Demonstrated ability to work in a team environment as well as to accomplish tasks independently and under tight timelines
Demonstrated ability to logically analyze and solve narrowly-defined and open-ended business problems
Demonstrated ability to logically and concisely present diverse ideas, both verbally and in writing
WGL is an EO employer M/F/Vets/Disabled
WGL is an EEO employer M/F/Vets/Disabled