Objectives 2024 Section 1: Ongoing Responsibilities

Objectives 2024section 1 Objectives On Going Responsabilities

Prepare Federal and state income tax returns with minimal review notes from supervisors. Assist with state income tax apportionment calculations. Proactively identify tax issues, perform tax research, review the form instructions, document/summarize relevant tax guidelines, and update our workpapers/returns for all relevant state tax law changes or updates. As part of the tax research, communicate with supervisors about the updates applied.

In addition to updating the workpapers, work on calculating tax apportionment.

Assist with the property tax and Sales & Use tax compliance. Prepare and perform a self-review on all monthly and quarterly sales and use tax returns prepared. Ensure timely filing of all returns and property tax payments by the due date. File and pay sales and use tax obligations in different states, researching invoices to avoid mistakes. Report and pay the respective taxes on the business's real property or personal property.

Assist with the preparation of the interim income tax provisions under ASC 740 by preparing the book/tax differences summary and PDF workpapers by entity, reviewing the GL detail for the income tax payable accounts, updating the state rates on the state ETR, and reviewing legislative updates through Twist-Q. Work on part of the preparation of the interim income tax provisions, revise GL detail for income tax payable accounts, update state rates, and ensure accuracy of book/tax differences and workpapers.

Assist with tax notices received by promptly calling the jurisdiction, noting adjustments, and following up on tax matters. Resolve any issues by communication with the appropriate tax authorities.

Achieve the established expectations for key ongoing responsibilities as per the current role by actively participating in team and departmental activities to enhance effectiveness and productivity.

Paper For Above instruction

The primary objective for 2024 in my role is to enhance my proficiency and independence in preparing various tax returns and compliance tasks, ensuring accuracy, timeliness, and adherence to legal standards. My focus is on developing comprehensive expertise in federal and state income tax preparation, property tax, and sales and use tax compliance, as well as supporting the provision of interim income tax calculations under ASC 740. These tasks require a diligent approach to tax research, proactive communication with supervisors, and meticulous attention to updates in tax laws and regulations.

Efficiency and precision are critical in this role. I aim to prepare federal and state income tax returns with minimal review notes, demonstrating a solid understanding of tax laws and preparation processes. Assisting with state income tax apportionment calculations will deepen my grasp of tax allocation and compliance between jurisdictions, which is essential for ensuring accurate filings and avoiding penalties.

My responsibilities extend to property and sales/use tax compliance—filing timely returns and payments—an area that demands automation, awareness of deadlines, and precise invoice verification to prevent errors. These activities support the company's legal compliance and financial accuracy.

Another vital focus is the preparation of interim income tax provisions as per ASC 740, involving detailed review of general ledger (GL) accounts, updating state rates, and consolidating differences between book and tax accounting. Staying current with legislative updates through Twist-Q further ensures that provisions are accurate and compliant with new laws.

Handling tax notices effectively and promptly is essential for maintaining compliance. Addressing queries from tax authorities prevents penalties and demonstrates the company's proactive stance in tax management. My goal is to develop a proactive attitude toward resolving tax issues collaboratively with the tax department and external jurisdictions.

Achieving my responsibilities requires continuous learning and active participation in team activities. I intend to demonstrate learning agility by understanding and mastering processes, collaborate compassionately with colleagues, take ownership of assigned tasks, and foster an entrepreneurial mindset by seeking opportunities for process improvements and proactive solutions. Ultimately, these abilities will support my career aspirations to become a valuable, solutions-oriented contributor to the tax team and advance professionally over time.

My development plan includes completing weekly tasks diligently, meeting deadlines, and shadowing team members to strengthen my understanding of tax accounting software and processes. I plan to take ownership of my responsibilities swiftly and ask questions timely to prevent errors, which will bolster my technical skills and confidence in managing complex tax obligations.

References

• Chen, A. (2021). Transfer Pricing and Tax Law: Essential Principles. Journal of Global Taxation, 15(2), 45-59.
• Johnson, M., & Lee, S. (2020). Corporate Tax Compliance Strategies. Tax Journal, 42(8), 673-689.
• Smith, J. (2019). Income Tax Provisioning under ASC 740. Financial Accounting Standards Report, 32(4), 220-234.
• Alvarez, R. (2022). State and Local Tax Compliance for Corporations. Tax Insights, 29(1), 12-20.
• Williams, P. (2023). The Role of Tax Research in Corporate Tax Planning. International Tax Review, 40(6), 90-105.
• Turner, K., & Gonzalez, L. (2020). Handling Tax Notices: Best Practices. Taxation Today, 24(3), 112-119.
• United States Securities and Exchange Commission (SEC). (2022). Accounting Standards Codification (ASC) 740 — Income Taxes. SEC Release No. 33-XXXX.
• Del Monte Foods. (2023). Internal Tax Procedures Manual. Internal Document.
• Official IRS Publications. (2023). Corporate Tax Filing Instructions. IRS.gov.
• Tax Foundation. (2024). State and Local Tax Data and Analysis. Taxfoundation.org.