Income Tax Forecasting Analyst & Accountant
Job Summary:
The Income Tax Forecasting Analyst & Accountant position is an integral member of the Southern Company Services (SCS) Corporate Tax team and reports to the Income Tax Forecasting & Accounting Manager. The position will require 75% Tax Forecasting and 25% GAS tax accounting responsibilities. For tax forecasting, the employee will work with the various registrants planning teams reviewing the 10-year forecast of federal and state taxable income and the federal credit carryforward analysis. For tax accounting the employee is primarily responsible for performing detailed tax accounting computations, tax provisions, and coordinating both internally with SCS Accounting Finance and Treasury (AFT) and with external auditors/stakeholders, at the various business units within Southern Company Gas.
This position provides a great opportunity to develop a deep knowledge of the regulated and unregulated electric and gas utility industries as well as develop an understanding of the business drivers that result in material book tax differences when calculating critical federal and state tax credit utilization. The tax credit utilization analysis is critical to the company in identifying optimal cash tax strategies, including the generating, utilizing and transferring of IRA tax credits.
Major Job Responsibilities:
SCS Tax Forecasting Analysts (75% of time)
- Work with the SCS Tax Depreciation team to update the fixed asset related book/tax timing differences in the forecasting model for assigned registrants for each financial planning submission (6 submission throughout year).
- Coordinate with Tax Accounting and Financial Planning Teams to review each Registrant’s federal and state taxable income, tax credit utilization and quarterly tax payments in the 10-year tax forecast.
- Prepare executive level tax forecasting summaries for management for each financial planning submission analyzing tax credit utilization, IRA credits generated and transferred and provide potential material potential future tax items that could impact future submissions.
SCS Tax Accountant (25% of time)
- Provide Gas registrant accounting support in the corporate income tax accounting area, which includes monthly closing processes, journal entries, analysis, and support of income tax accounts.
- Prepare Gas registrant monthly financial reports for internal and external reporting that summarize various income tax balances. Perform federal and multi-state income tax analysis and calculations.
- Perform and assist with the as registrant quarterly and monthly account reconciliations, tax analytics, and variance explanations.
Education and Experience:
- Bachelor’s degree in accounting or finance required.
- Minimum 4 years of experience in accounting, tax and/or finance.
- Knowledge and recent professional experience in accounting and/or income taxes preferred.
- Experience with UI Financial Planner, or other Tax Forecasting software desired.
- Experience with Accounting systems, Powerplan and Tax Provision a plus.
Skills & Abilities:
- Good organizational skills
- Strong analytical and problem-solving skills
- Ability to make decisions and perform in a timely manner with minimal supervisory guidance.
- Good verbal and written communications skills
- Ability to identify and implement process improvements.
- Strong interpersonal skills: ability to work well with people at various levels, in a team environment and with other departments.
- Able to communicate complex, technical tax issues in a clear manner to both tax professionals and those not familiar with tax accounting.
Behaviors:
- Demonstrates “Our Values” of Safety First, Superior Performance, Total Commitment and Unquestionable Trust in all interactions.
- Ethical Behavior: Is widely trusted; deals fairly and ethically with everyone; presents facts in a honest and direct manner; maintains strict confidentiality of sensitive information.
- Innovation: Looks for ways to improve workplace effectiveness; solicits the creative ideas of others; efficiently works within budget and time constraints; exhibits willingness to work out of comfort zone
- Diversity: Values differences in people; understands different perspectives and frames of reference; recognizes the link between diversity and organizational success and supports an inclusive workplace
- Customer Focus: Dedicated to meeting expectations and requirements of internal and external customers; maintains effective relationships across organizations.
- Teamwork: Communicates openly and values honesty; listens to others; works with others toward common goals