Payroll Tax Analyst

2 weeks ago


Chicago, United States Grayson Search Partners Full time

Job Summary:

The Payroll Tax Analyst manages payroll tax compliance and reporting, ensuring that all payroll tax-related activities are performed accurately and in accordance with applicable regulations. This role involves coordinating with various departments to ensure timely and accurate tax reporting and addressing any payroll tax issues or discrepancies.


Key Responsibilities:
  1. Payroll Tax Compliance:

    • Ensure compliance with federal, state, and local payroll tax laws and regulations.
    • Stay current with changes in tax laws and regulations affecting payroll.
    • Review and update payroll tax procedures and policies as needed.
  2. Tax Reporting and Filing:

    • Prepare and file federal, state, and local payroll tax returns, including quarterly and annual reports.
    • Manage and reconcile payroll tax liabilities, including withholding taxes, Social Security, Medicare, and unemployment taxes.
    • Ensure accurate and timely payment of payroll taxes to government agencies.
  3. Tax Documentation and Recordkeeping:

    • Maintain accurate payroll tax records and documentation.
    • Respond to tax notices and correspondence from government agencies.
    • Prepare documentation for audits and ensure compliance with internal controls.
  4. Issue Resolution:

    • Investigate and resolve payroll tax discrepancies and issues.
    • Collaborate with HR and payroll teams to address tax-related inquiries and discrepancies.
    • Assist with resolving employee tax-related issues, such as W-2 and 1099 concerns.
  5. System Management:

    • Ensure payroll tax data is accurately entered into payroll systems.
    • Coordinate with payroll system vendors to address tax system issues and updates.
    • Implement system changes and updates related to payroll tax compliance.
  6. Communication and Support:

    • Provide guidance and support to payroll and HR teams on tax-related matters.
    • Assist with the development and delivery of training on payroll tax issues and compliance.
    • Communicate effectively with external tax authorities and auditors.
  7. Continuous Improvement:

    • Identify opportunities for process improvements and efficiencies in payroll tax processing.
    • Participate in payroll system upgrades and enhancements related to tax functions.
    • Monitor and evaluate the effectiveness of payroll tax procedures and implement improvements as needed.

Qualifications:
  • Education: Bachelor’s degree in Accounting, Finance, Business Administration, or related field. Relevant certifications (e.g., Certified Payroll Professional, CPP) are a plus.
  • Experience: 2-4 years of experience in payroll tax or a related finance role. Experience with payroll software and tax compliance is highly desirable.
  • Skills:
    • Strong understanding of payroll tax laws and regulations.
    • Proficiency in Microsoft Excel and payroll software (e.g., ADP, Paychex).
    • Excellent analytical and problem-solving skills.
    • Attention to detail and accuracy.
    • Strong communication and interpersonal skills.

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