Trust Tax Advisor

Summary

Works with Senior Advisor – Trust Tax on all aspects of individual, corporate and fiduciary tax related matters relating to Trusts, Guardianships, IRAs, Retirement Plans, Estates and Individuals. The individual must work closely with all administrators and support personnel. Position also includes contact with high net worth clients, legal and financial advisors and managing vendor relationships. Maintain records and create reports relative to all tax matters.

Essential Duties and Responsibilities 

• Required Account-related Tax Forms and Returns – (Forms 1041, Forms 1099, Form 1099 R, tax letters)
  • Timely file all tax-related documents
  • Track mutual fund factoring reporting for any changes for the tax season
  • Work with administrators when additional information is required
  • Work to have all accounts set up for e-file through One Source Trust Tax (Fast-tax)
  • Oversee timely distribution of tax reporting information to clients and beneficiaries
• Personal Tax Returns (Form 1040)
  • Work with outside accounting firms to timely file client tax returns
  • Track returns to determine whether any additional returns can be transitioned to outside accounting firm
  • Pay quarterly estimates
  • E-file individual returns when possible
• Estate Settlement, IRA, Payroll and Miscellaneous Support
  • Work with the settlement group to provide the necessary support
  • Maintain data base for all deaths and death related duties for settlement group
  • Take notes at settlement group meetings and distribute to group members
  • Review the IRA account transactions after tax season and every two months thereafter
  • Participate in the development of ongoing tax training as needed for Personal Trust Services, Retirement Plan Services, Private Banking and Investment Advisory Services
  • Oversee processing and recordkeeping of payroll for employees of estates and trusts
  • Calculate and take fees for payroll work, tax return reviews and other miscellaneous projects when applicable
• Working relationships with third party vendors/providers of tax-related services
  • Work with One Source Trust Tax, Friedman & Huey and other accounting firms
  • Work with F&H, when necessary, on any Trust Department related notices
• Leadership
  • Work proactively with local teams, PTS team, Institutional Trust team, Investment team, private banking team and other support areas
  • Minimize operational losses related to tax and payroll matters
• Comply with all applicable federal and state laws and regulations
• “LIVE” the Bank’s Mission Statement and “PRACTICE” the Bank’s Corporate Strategy
• Other duties as assigned

Qualifications

To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

Education/Experience

Bachelor’s degree (B. A.) from four-year college or university (CPA, graduate studies, MBA or law degree or certifications in Personal Trust / Guardianship area preferred) and five to eight years related experience and/or training; or equivalent combination of education and experience.

Prefer individual who can navigate through tax returns and forms. Payroll processing experience and knowledge of all types of payroll reporting, including year-end reporting, state withholding and state unemployment reporting. Experience with IRA reporting requirements and general knowledge of the different types of IRAs and their respective rules. Prior training in personal and trust tax is desirable.

Computer Skills

To perform this job successfully, an individual should have proficiency in use of computer applications, including Microsoft Word, Access and Microsoft Excel.

Job Location
Territory ranges from North Western suburbs to the South Loop of Chicago, IL. The main office is located in Rosemont, IL.

Location
Rosemont, IL.