Tax Compliance Specialist - Finance & Administration
New York, NY
Posted Sep 28, 2023 - Requisition No. 120349
The energy of a newsroom, the pace of a trading floor, the buzz of a recent tech breakthrough; we work hard, and we work fast - while keeping up the quality and accuracy we're known for. It's what keeps us inventing and reinventing, all the time. Our culture is wide open, just like our spaces. We bring out the best in each other through teamwork. Through our countless volunteer projects, we also help network with the communities around us, too. You can do outstanding work here. Work you couldn't do anywhere else. It's up to you to make it happen.
What’s the role?
At Bloomberg Finance we are committed to providing world-class support to our business partners by providing insight on business performance, financial oversight and thought leadership.
There are many responsibilities involved in running a business successfully, but maintaining strong control over accounts payable and tax compliance is among the most crucial. We are the team to ensure that company's payables are legitimate and accurate, and we provide professional customer service to internal and external stakeholders, as well as consistently maintain controls. In this role you will be working on tax compliance over Procure to Pay operations in a dynamic and fast paced environment.
You will be responsible for Tax Compliance with the IRS regulations focused on 1042 and 1099 related processes, running recurring and ad-hoc tasks, controls and projects assigned to you and to provide a positive experience for those you work with. In order to be successful, you will need strong attention to detail, hands on and be an excellent problem solver. You have the ability to balance high workload while meeting deadlines yet understand the importance of controls. You have excellent communication and prioritization skills, an ability to present ideas about process improvements and to question the status quo. You thrive in a dynamic, open-plan, team environment, and you know what customer service really means. You will be based in New York City, reporting to the Tax Compliance Team Leader.
We'll trust you to:
- Develop of process flows, policies and procedures, controls, work plans for collection and recording data, working with Procurement, Legal, Business Stakeholders, Accounts Payable and External Advisors
- Interact with external Tax Advisors on complex cases
- Partner with vendor master team and SAP support team on setup and maintenance of tax codes in the system
- Coordinate, prepare and file both 1042 and 1099 reports (anticipate January-March is a high season for taxes)
- Coordinate mailing of the 1042S and 1099 forms to vendors, be hands on if necessary
- Serve as an advisor to the customer services team addressing vendor inquiries, ensuring applicability of withholding tax regulations for both 1042 and 1099 reporting
- Create and maintain yearly 1042 Tax Deposit Calendar
- Perform yearly review of US Source of Income rates for Royalties and Service vendors
- Periodical review of vendor payment activity, confirming accuracy of US Source of Income, withholding rates and validity of collected forms as preparation for the yearly report to the IRS.
- Partner with Accounts Payable to process any adjustment for either reporting or withholding discrepancies if any
- Constant review of current processes to ensure compliance and finding opportunities for automation
- Support internal business areas representatives, leaders and CFO teams to understand foreign vendor withholding requirements, clarifying questions and host phone calls with vendors if necessary
- Review and validate forms collected from foreign vendors, including W8 and W9 forms, to ensure adherence the IRS regulations for both existing and new vendors
- Back up the Tax Compliance Representative, ensuring the end-to-end process is covered by this Team Compliance team
You'll need to have:
- Bachelor's Degree in Accounting preferred
- 4+ years of relevant experience with 1099/1042 tax reporting
- Excellent time management and organizational skills
- Ability to effectively communicate with various levels of management
- Ability to function with large units of data
- Proficiency in Microsoft Excel
We'd love to see:
- Knowledge of SAP
- Knowledge of Agile Scrum framework
Does this sound like you?
Apply if you think we're a good match. We'll get in touch to let you know that the next steps are, but in the meantime feel free to have a look at: https://www.bloomberg.com/company/what-we-do/
Bloomberg is an equal opportunity employer and we value diversity at our company. We do not discriminate on the basis of age, ancestry, color, gender identity or expression, genetic predisposition or carrier status, marital status, national or ethnic origin, race, religion or belief, sex, sexual orientation, sexual and other reproductive health decisions, parental or caring status, physical or mental disability, pregnancy or maternity/parental leave, protected veteran status, status as a victim of domestic violence, or any other classification protected by applicable law.
Bloomberg provides reasonable adjustment/accommodation to qualified individuals with disabilities. Please tell us if you require a reasonable adjustment/accommodation to apply for a job or to perform your job. Examples of reasonable adjustment/accommodation include but are not limited to making a change to the application process or work procedures, providing documents in an alternate format, using a sign language interpreter, or using specialized equipment. If you would prefer to discuss this confidentially, please email AMER_recruit@bloomberg.net (Americas), EMEA_recruit@bloomberg.net (Europe, the Middle East and Africa), or APAC_recruit@bloomberg.net (Asia-Pacific), based on the region you are submitting an application for.
The referenced salary range is based on the Company's good faith belief at the time of posting. Actual compensation may vary based on factors such as geographic location, work experience, market conditions, education/training and skill level.We offer one of the most comprehensive and generous benefits plans available and offer a range of total rewards that may include merit increases, incentive compensation [Exempt roles only], paid holidays, paid time off, medical, dental, vision, short and long term disability benefits, 401(k) +match, life insurance, and various wellness programs, among others. The Company does not provide benefits directly to contingent workers/contractors and interns.
Salary Range: 90,000 - 105,000 USD Annually + Benefits + Bonus