01/01/1988 03731

CORPORATION TAX ACCOUNT TECHNICIAN

DEFINITION: This is specialized bookkeeping work in the maintenance, examination, and analysis of corporation tax accounts in the Department of Revenue.

An employee in this class is responsible for analyzing ledgers to determine the accuracy and appropriateness of debits and credits for corporation taxes, interest, penalties, and additional taxes for underpayment of tentative/estimated taxes; and maintaining corporation tax accounts. Reviews corporation tax reports, Federal audit reports of change, and correspondence to determine if adjustments are appropriate to the ledgers. Interprets corporation tax statutes, regulations, and Departmental procedures. Communicates with corporate officials, accountants, and attorneys verbally, or through written correspondence to explain filing requirements for corporation tax reports, availability of credits for transfer or refund, appeal procedures; and the basis for penalties, interest, and underpayment of tentative/estimated taxes. Prepares journalizing transactions to make corrections to the corporation accounts; prepares account review statements; posts restricted credits; and transfers credits in response to corporate officials or departmental initiatives. Reviews, approves, adjusts or denies requests for cash refunds. Work also involves reviewing notice of interest settlements to correct errors on interest charges to corporations; calculating interest adjustments for tax reductions; and posting tax adjustments in response to stipulations or compromises from the Attorney General's Office. Work assigned to the employee is completed with considerable independence. Supervisory guidance is available to resolve problems involving new or unique situations of a precedent setting nature.

EXAMPLES OF WORK: Reviews ledgers, correspondence, corporation tax worksheets and reports, Federal audit reports of change, and other related documents to determine whether adjustments should be made to corporation tax accounts and to reconcile their records with those of the Department.

Analyzes ledgers to determine the accuracy and appropriateness of debits and credits for taxes, interest, penalties and additional taxes for underpayment of tentative/estimated taxes and how payments should be applied to corporation accounts.

Initiates correspondence or telephone calls to corporate officials, accountants, and attorneys to explain filing requirements for corporation tax reports, availability of credits for transfer or refund, appeal procedures, penalties, interest and underpayment of tentative/estimated taxes.

Prepares journalizing instruction forms to transfer tax monies from one corporation tax system to another and to post debits and credits on the ledger sheets based on corporation directions or own initiative.

Prepares account review statements which reflect the monies owed by corporations.

Posts credits to corporation accounts when restricted credits are approved.

Reviews requests for corporate tax cash refunds to determine whether the cash refunds should be approved in whole, part or denied and credits refunds to corporation accounts.

Reviews notice of interest settlements to correct errors on interest charges to corporations by posting credits to accounts.

Reviews Tentative/Estimated Tax additions for the purpose of making corrections.

Calculates interest resettlement when an untimely paid tax is reduced by settlement/resettlement.

Posts write offs/compromises/stipulations to corporate accounts by preparing journalizing instructions.

Precalculates penalty and interest additions.

Operates the CRT terminal to provide information on the accounts of corporations.

Provides corporate officials with pay-off figures when prepayment of interest is needed.

Provides the Board of Finance and Revenue with ledger information and analysis for accounts when petitions are filed with the Board.

Reviews corporate tax reports and ledgers for mergers and/or bulk sales to determine whether taxpayers are entitled to credits because of errors.

Reviews stipulations from the Office of the Attorney General and prepares worksheets outlining the changes on taxes, penalties and interests to agree with the stipulated figures.

Performs related work as required.

REQUIRED KNOWLEDGES, SKILLS, AND ABILITIES: Knowledge of basic bookkeeping principles and methods and their application to examination and evaluation of Corporation Tax ledgers, reports, and settlements.

Knowledge of Corporation Tax processing procedures, statutes, regulations, policies, and laws.

Ability to express ideas clearly and concisely both verbally and in writing to attorneys, corporate officials, accountants, and other representatives.

Ability to analyze corporation tax ledgers, corporation tax reports, and other Corporate Tax documents.

Ability to utilize a CRT terminal to obtain Corporation Tax information.

Ability to read and interpret provisions of the corporation tax laws, rules, regulations and policies.

Ability to prepare journalizing instruction forms.

Ability to perform detailed work with written or numerical data and to make arithmetical calculations rapidly and accurately.

Ability to prepare account review statements which reflect monies owed by corporations.

MINIMUM EXPERIENCE AND TRAINING: Two years of bookkeeping experience involving accounts payable and/or accounts receivable.

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One year of bookkeeping experience and six credit hours of accounting.

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Two years of experience in the review of tax documents and six credit hours in accounting.

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Any equivalent combination of training and experience which includes six credit hours in accounting.