Trust & Estate Tax Manager

Job Description

Job Description

Salary : Why We Exist

At The Trust Company of Tennessee, we believe everyone can live confidently and reach their financial goals. Would you like to be part of a team that works with individuals, families, businesses, and foundations to identify what success looks like and formulate a plan to get there? Come join our team of Wealth Management, Trust, Estate Administration, and Corporate Retirement Plan professionals who proudly help clients achieve their dreams.

Our Culture

At The Trust Company of Tennessee, we are passionate about fostering a culture where all people feel valued, supported, and inspired to make a difference. We are committed to doing the right things in the right ways for our clients. We uphold the highest standards of integrity, respect, and confidentiality. We believe in the power of positive relationships built on trust and empathy. We proudly serve our clients and community with purpose and heart.

Core Purpose

The Tax Manager is responsible for preparing, reviewing, and assembling tax documents for TTCs wealth management, personal trust, and estate accounts. This position is also responsible for assisting the legal and trust departments with compliance and tax projects.

Responsibilities

• Shows a commitment to The Trust Companys Mission, Core Values, and Client
• Responsible for managing the project team that prepares, reviews, and distributes the 1099s, grantor letters, and state returns for Investment Management Accounts, Revocable Trusts, and Irrevocable Grantor Trusts.
• Manages the vendor for tax preparation and reviews income tax filings for trusts, estates, and other entities including 1041s, 5227s, and 990-PFs
• Prepares and assembles Federal and State estate and Generation Skipping Trust tax returns.
• Coordinates with outside tax preparers for personal and entity tax filings.
• Ensures gifting compliance including maintaining and tracking gifts, gift reporting, providing gifting forms, and calculating cost-basis and shares to be gifted.
• Reviews quarterly estimated tax payments for trust accounts.
• Oversees tax payments for individuals from TTC accounts.
• Communicates with tax agencies and internal departments on a variety of tax-related inquiries.
• Works with trust compliance to onboard trusts correctly for tax purposes.
• Calculates distributable shares, tax reserves, and tax prep fees for terminating trusts.
• Completes calculations for trust compliance, including Total Return and 5x5.
• Completes monthly compliance reviews for new accounts, deposits, and distributions.
• Reviews and updates cost basis as appropriate when a triggering event occurs.
• Coordinates with Relationship Managers to make any 663(b) distributions.
• Educates Relationship Managers regarding tax issues in fiduciary accounts.
• Other duties as assigned.

Qualifications