Lead Tax Accountant - Hybrid (1 day in the office per week)

at Ideal Industries, Inc. in Sycamore, Illinois, United States

Job Description

IDEAL INDUSTRIES, INC. has built a reputation for over a century by crafting iconic tools and practical technology required in aerospace, data communications, electrical, wire processing and construction. The global family of IDEAL brands includes IDEAL Electrical, Anderson Power, and Enatel.

A vibrant and dynamic company, IDEAL is best known for our wire connectors, the gold standard for making electrical connections around the world. Nearly every commercial jet is assembled using IDEAL wire strippers and, as part of the critical equipment on NASA missions, our tools even help NASA astronauts fly to the moon. Most important, our products benefit skilled tradespeople, who reach for IDEAL tools every day.

IDEAL is propelled by the concept of Building an IDEAL World. Our family-run business is committed to building ideal relationships with customers, employees, and communities by crafting some of our industry’s most innovative and trusted tools.

The Lead Tax Accountant is the internal tax preparer, specializing in family and trust returns. This is a key position in our corporate office working with the Corporate Tax Manager. This is a key position within our firm with a significant level of Shareholder and Management interaction.

Responsibilities:

Shareholder Relationship:

· Develop and nurture relationships with the family shareholder group, being the trusted advisor to our shareholders.

· Establish meaningful rapport, gaining the shareholders’ confidence by obtaining intimate knowledge of their lives and objectives to anticipate and respond to their various needs, both individually and through collaboration with various internal and external stakeholders.

Tax Planning:

· Oversee the income and estate tax planning for all family members and related entities including the development of long-term tax strategies.

· Coordinate with external tax advisors to identify and implement tax planning strategies that meet family goals.

· Continuously monitor tax rules and regulations and proactively identify potential issues and planning opportunities

· Advise on philanthropic giving strategies to optimize tax benefits and align with long-term family objectives

Trust Returns:

· Manage compliance ensuring timely completion of federal and state income tax returns, timely review and approval of returns, payment and filing as re-quired.

· Manage compliance for state and local taxes ensuring timely completion, re-view, approval, payment and filing as required

· Prepare initial draft trust returns using K-1’s provided by external tax provider, 75+ trust returns per year due by October 15th.

Corporate Function:

· Develop a tax calendar and monitoring process for all taxes ensuring timely submission and filing of extensions as applicable.

· Prepare internal memorandum, external written correspondence, and other documents to IRS and various state and local tax authorities as well as IDEAL leadership.

· Track and interpret relevant legislative developments, providing timely insights and strategic recommendations to internal teams

Shareholder Payments: 

· Oversee quarterly cash payments for Tax and Equity distributions, both calculating and collabora



Equal employment opportunity, including veterans and individuals with disabilities.

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