Tax Department Associate

Description

The Tax Department Associate supports the preparation, review, and filing of tax returns and related tax planning and reporting for individual, trust, fiduciary, and estate clients of First State Bank and Trust. This position also provides tax planning and advisory support to Trust Officers and clients to help optimize tax outcomes while ensuring compliance with fiduciary obligations, applicable tax laws, and regulatory requirements.

This position works closely with all members of the Trust Department to ensure accurate and timely tax compliance while maintaining high standards of fiduciary service. 

Essential Duties and Responsibilities

• Prepare fiduciary income tax returns (Form 1041) and related state tax returns for trusts and estates.
• Assist with preparation and review of individual, gift, and charitable trust tax returns as assigned.
• Monitor tax deadlines and ensure timely filing of federal, state, and local tax returns.
• Gather, organize, and reconcile financial data required for tax reporting.
• Serve as a technical tax resource to Trust Officers on individual and fiduciary income tax, estate tax, gift tax, and trust administration matters. 
• Support estate settlement activities, including valuation reporting, basis adjustments, funding distributions, and final tax return preparation. 
• Participate in fiduciary account reviews to identify tax risks, planning opportunities, and compliance concerns. 
• Support Trust Officers in client and beneficiary meetings involving tax matters. 
• Research tax regulations, rulings, and legislative changes that may impact trust and estate administration.
• Maintain tax records, workpapers, and supporting documentation in accordance with company policies and regulatory requirements.
• Respond to inquiries from clients, beneficiaries, trust officers, auditors, and taxing authorities.
• Assist with tax notices, audits, examinations, and correspondence from federal and state agencies.
• Support year-end tax processing and reporting activities.
• Collaborate with trust administration staff to ensure accurate account coding and tax treatment of transactions.
• Coordinate with the Operations department to ensure tax payments are made in a timely and accurate manner.
• Participate in process improvement initiatives to enhance efficiency and accuracy within the tax department.
• Maintain confidentiality of client financial and personal information.

Requirements

Education

• Bachelor's degree in Accounting, Finance, Taxation, or related field preferred.

Experience

• 2+ years of tax preparation, accounting, trust administration, or related experience preferred.
• Experience with fiduciary tax returns and trust accounting strongly preferred.

Certifications (Preferred)

• CPA, EA, CFP®, CTFA, or progress toward a professional designation is desirable.

Knowledge, Skills, and Abilities

• Maintains current understanding of Federal and State tax laws and regulations, as well as industry best practices. 
• Technically proficient in fiduciary law, tax, estate, and trust administration processes. 
• Strong ability to interpret tax laws and regulations.
• Demonstrated ability to work in a team environment. 
• Strong analytical and problem-solving skills.
• Excellent attention to detail and organizational skills.
• Excellent judgment and independent thinking skills. 
• Strong written and verbal communication skills.
• Ability to function effectively in an environment with deadlines and shifting priorities.
• Flexible, versatile, resilient, and able to work additional hours as needed.
• Proficiency in Microsoft Office Suite, particularly Excel.
• Experience with fiduciary accounting and tax preparation software (Axcess Tax Suite) preferred.