Farmington Hills, MI, 48332, USA
23 hours ago
Tax Specialist Information Reporting Lead
Tax Specialist Information Reporting Lead This position provides the tax advisory function related to information reporting requirements for all lines of business within Comerica. Responsibilities includes constant monitoring of tax legislation at the federal and state levels and communicating such changes throughout the organization to ensure accurate information reporting, mitigating tax risk. Additionally, this position will support the Senior Manager in addressing tax information reporting questions from the LOB and support the team in building the Information Reporting Center of Expertise and oversight procedures for LOB. Also, responsible for assisting in other areas of the Corporate Tax Department as deemed necessary. Position Responsibilities: Tax advisory and research * Assist LOB with resolving information reporting and withholding issues globally. * Support the Senior Manager in the collaborating with cross-functional teams to advise on information reporting implications of business decisions and operational changes. * Keep abreast of regulation changes in information reporting and new tax legislation and provide support to the Senior Manager in assessing the impact on the company to help Comerica avoid financial and reputational risk of non-compliance with IRS/State reporting and withholding rules. * Provide support to the Senior Manager in reviewing and advising LOB and leadership on existing processes/procedures offering improvements to avoid penalties and interest for incorrect or inadequate reporting and processing. * Conduct initial research on technical information reporting matters as applicable to mergers and acquisitions, divestitures, and other strategic initiatives. Provide support in the feasibility of a Target Operating Model/Reporting Center of Expertise and provide guidance on oversight procedures for LOB * Provide guidance and support to the LOB to assist the filing of federal, state, and international tax information reporting returns. * Support the coordination of external advisors, relevant Comerica tax leadership, and tax authorities as needed. * Develop and implement tax strategies to minimize information reporting fine & penalty liabilities and support the company's overall financial goals. * Look for efficiencies in operating process utilizing technology, third party vendors, and software utilized by Corporate Tax and LOB. Education communication and Risk Mitigation with LOB/operations * Ensure tax deadlines are communicated, tracked, and reported for risk management for all LOBs with Information Reporting responsibilities though Enterprise-Wide Compliance. * Conduct periodic updates with LOBs/operations on developments in federal and state legislation and guidance. * Ensure that the company's tax reporting processes are efficient, compliant, and aligned with best practices. * Administrative and other duties, as assigned Equal Opportunity Employer Minorities/Women/Protected Veterans/Disabled
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