Craig Hudson
Laurelton,NY
Summary
Dynamic Licensed Tax Professional with extensive experience at Deloitte, excelling in tax compliance and client relationship management. Proven track record in preparing multi-state tax returns and advising high-net-worth clients, ensuring accurate filings and optimal tax positions. Adept at navigating complex IRS inquiries while maintaining strong client communication and trust.
Overview
1
1
Certification
29
29
years of professional experience
Work History
Licensed Tax Professional
Tax Defense Network
02.2024 - Current
- Developed strategic plan to address recurring tax compliance issues for high-net-worth clients with LLCs and significant unearned income.
- Engaged with clients to analyze tax issues and guide them on resolution strategies.
- Prepared amended returns for clients with inaccurate filing positions.
- Prepare 1040, 1065, 1120-S (Attached Form 2553) for those clients that have unfiled returns that must be on file with various taxing authorities
- Prepare and File Power of Attorney for Federal and State client representation
- Respond to IRS inquiries, assist with drafting advisory letters, and write other technical memos for clients and management
- Respond to IRS and State and local taxing authorities' letters to client requesting financial information that supports their tax filing positions
- Perform POA Compliance and debt checks; communicate with the IRS and state tax agencies to determine status of client's tax debt and secure collections holds
- Processed the release of wage garnishments and bank levies, providing clients with prompt financial relief from tax liabilities.
- Established installment agreements for clients, managing their tax debts under Currently Non-Collectible status and facilitating innocent spouse relief services.
- Guided clients in creating accurate periodic financial statements to support business operations.
- Communicate results to clients to develop the actions that must be taken to clear the issues
- Maintained knowledge of current and proposed tax law changes.
Deloitte - Sr Tax Accountant (Remote)
Insight Global
06.2023 - 10.2023
- Primary responsibility for providing guidance, supervision, and review of Jr. Associates work product in the SALT group as product is prepared for high-net-worth clients
- Pass Through Entity Tax - PTET returns preparation and analysis for those HNW clients that want to take advantage of the $10k workaround of the state tax deduction limitation on their federal returns
- Prepared state composite tax returns, minimizing high-net-worth clients' filing requirements across multiple states for state source income from various partnerships.
- Conducted analysis and preparation of quarterly estimates and extension workpapers to ensure timely compliance for high-net-worth clients.
- Tax return workpaper production for apportionment and allocation analysis along with nexus studies
- SOR or State of Residency workpapers and returns for individual partners
- Reviewed and cleared notes on tax returns prepared in India, ensuring accuracy and compliance before final submission.
- Worked at public accounting firm, providing tax and advisory services.
Sr. Tax Accountant
Shissell Smallberg LLP
New York, New York
09.2022 - 02.2023
- Primary responsibility for communicating with clients and partners in making sure all client concerns are addressed and all documentation needed to file complete and accurate returns are in client files and documented work papers for return preparation
- Prepared Federal 1120 C-Corps and S-Corps with associated schedules for single entities and consolidated C-Corps parent subsidiary organizations
- Prepared Federal Form 1065 for real estate investment partnerships
- Prepared 1040 for individuals operating sole proprietorships and for high net-worth individuals with schedule C and Schedule E activities
- Prepared Form 8858 Information Return of U.S. persons with holdings in Foreign Disregarded Entities
- Prepared Form 8949 for sales and disposition of capital assets at gain or loss
- Calculated and submitted estimated payments for clients with substantial income to ensure timely compliance and minimize penalties
- Managed year-end tax return extensions for clients to secure additional time for documentation and compliance
PricewaterhouseCoopers LLP - Sr. Tax Accountant
Judge Technical Group
01.2022 - 08.2022
- Guided, supervised, and reviewed junior associates' work product in SALT group, ensuring high-quality deliverables for high-net-worth clients.
- Pass Through Entity Tax - PTET returns preparation and analysis for those HNW clients that want to take advantage of the $10k workaround of the state tax deduction limitation on their federal returns
- State Composite Tax returns limiting HNW Client's filing requirements in multiple states with respect to state source income generated in investments in various partnerships and locals
- Prepared quarterly estimates and extensions workpapers, conducting analysis to ensure timely and accurate tax compliance.
- Produced tax return workpapers for apportionment and allocation analysis, facilitating comprehensive nexus studies for client tax strategy.
- Worked at public accounting firm
Sr. Tax Accountant
Levine & Seltzer LLP
New York, New York
01.2019 - 12.2021
- Played an instrumental role in the preparation and review of Federal, multi-state and local income tax returns for C Corporations and S-Corps (Form 1120 and 1120S)
- Prepared supporting schedules for tax returns, including Form 8949 for sales and disposition of capital assets and Schedule D, facilitating accurate reporting and compliance
- Prepared Partnerships, Trust and LLC (Form 1065) primarily in the rental real estate and entertainment industry-prepped IRS Form 8825-rental real estate income and expense of a partnership or S corporation
- Prepared 1040s with Schedule C business income and Schedule E rental income for high-net-worth individuals
- Prepared Form 4797 for sale of business assets
- Prepared Form 4562 for depreciation deduction of business assets
- Managed federal and state notices and information document requests.
- Researched tax issues using CCH and BNA electronic sources, delivering detailed memos with actionable tax planning strategies and savings recommendations for corporate and individual clients
Sr. Tax Accountant
Baron & Baron LLP
New York, New York
06.2018 - 12.2018
- Primary responsibility for communicating with clients and partners in making sure all documentation is requested and documented in work papers to prepare tax returns for HNW clients in the Real Estate Industry
- Prepared Federal 1120 C-Corps and S-Corps with associated schedules for single entities and consolidated C-Corps, ensuring compliance and accuracy in tax reporting.
- Prepared Federal Form 1065 for real estate investment partnerships
- Calculated Qualified Business Income schedules for rental income partnerships
- Prepared 1040 for individuals operating sole proprietorships and for high net-worth individuals with Schedule C and Schedule E income
- Prepared IRS Form 4797 Sale of Business Property
- Prepared Form 8949 for capital asset disposition and the gain or loss
Sr. Tax Accountant
Mark Levine
Brooklyn, New York
05.2010 - 05.2018
- Prepared 1120, 1120-S, 1065, and 1040 for High Net-Worth Individuals and small business owners
- Compiled and organized client information in preparation of federal and state tax returns using ProSeries software
- Prepared quarterly estimate calculations for various clients
- Engage clients to gather tax information and assess business activities for tax implications.
- Assisted clients with Information Document Requests in preparation for IRS state and local inquiries
- Manage various notices from federal, state and city tax agencies
- Researched tax issues using CCH and BNA electronic sources to provide detailed memos with tax planning and savings recommendations for clients.
- Worked at a public accounting firm providing tax and accounting services.
Sr. Tax Analyst
National Grid
Brooklyn, New York
01.2009 - 04.2010
- Prepared quarterly and year-end tax provision under ASC 740 with detailed workpapers
- Accounted for Uncertainty in Income Tax under FIN 48 now ASC 740-10
- Prepared Federal 1120 tax returns along with detailed workpapers
- Prepared Provision to return looking for errors and ways to fine-tune estimates of M-1 adjustments
- Documented permanent and temporary M-1 adjustments and prepared schedule M-3 to support accurate tax reporting.
- Prepared state income and franchise tax returns for all companies operating in the U.S.; State filing methods varied from combined, unitary, to single company filings; nexus in approximately thirty states
- Prepared proformas 1120 for subsidiaries in combined group
- Prepared Federal Form 1065 Partnership Return
- Assisted in the filing of Information Returns such as, 5471 and 5472
- Monitored current and proposed tax law changes relevant to the industry and tax reporting
- Took over tax preparation duties and accounting for income taxes from an outside firm, documenting differences between state utility regulation accounting and U.S. tax code to ensure compliance.
- Supervised intern staff in filing property tax, sales tax, annual reports, and miscellaneous filings, ensuring timely compliance with regulatory requirements.
- Prepared Federal Form 990-PF for private foundation along with quarterly estimates and extension for both Federal and NYS compliance
Senior Tax Accountant
Eisner LLP
New York, New York
01.2008 - 12.2008
- Prepared corporate 1120 returns for clients across real estate, manufacturing, and financial industries, facilitating timely and accurate tax filings.
- Analyzed corporate audited trial balances, identifying permanent and temporary M-1 adjustments to ensure accurate tax compliance.
- Imported large data sets (trial balances and general ledgers) of information from Excel spreadsheets into tax software (Insourse) in preparation for corporate tax returns
- Prepared Federal Form 1065 Partnership Returns for Real Estate and Financial Clients
- Prepared IRS Form 4797 sale of business property
- Prepared information return 5471, 5472, and 8858
- Calculated FASB Accounting Standards Codification 740 (FAS 109) work papers and analysis of FIN 48 - Accounting for Uncertainty in Income Taxes
- Prepared Quarterly Estimates, Extensions, for both Federal and State and Local Filings
- Reviewed clients' bank statements and documents to determine tax implications, ensuring maximized deductions and compliance.
Senior Tax Analyst
MSC Industrial Supply, Inc.
Melville, New York
05.2001 - 12.2007
- Prepared provision work papers for interim and year end provision calculations according to FASB Accounting Standards Codification 740 (formerly FAS 109 Income Tax Accounting) including effective tax rate work papers and calculations
- Accounted for Uncertainty in Income Tax under FIN 48 now ASC 740-10
- Prepared State Income and Franchise Tax Returns for parent and twenty subsidiaries
- Prepared Pro-forma 1120 for twenty individual companies. Completed intercompany eliminations work papers to prepare Combine Federal 1120
- Filed various other state returns such as, MI's Single Business Tax, and OH's Commercial Activity Tax (CAT) returns
- Reconciled Taxes Payable/Receivable accounts with tax basis Balance Sheet
- Analyzed SEC reporting (10-Q and 10-K) for public disclosures, ensuring accuracy through comparison with internally generated reports
- Examined SEC reports of industry competitors to enhance confidence in our reporting and gain insights into competitive landscape
- Prepared FYE extension request using the same Excel model
- Researched Issues such as FIN 48 and Employee Stock Options for presentations with Tax Group, CFO, and other interested parties
- Oversaw operations for wholesale distribution corporation, ensuring compliance and efficiency in tax-related processes
Sr Tax Accountant cont.
MSC Industrial Supply, Inc.
Melville, New York
05.2001 - 05.2007
- Prepared complex tax returns for corporate clients in compliance with regulations.
- Reviewed financial statements to ensure accuracy and completeness for tax reporting.
- Collaborated with cross-functional teams to address tax-related inquiries and issues.
- Coordinated inventory donation function for charitable organizations; created Excel schedules to model IRS code §170(e) compliance.
Tax Accountant
TDK U.S.A. Corporation
Uniondale, New York
06.1997 - 05.2001
- Analyzed financials for M-1 adjustments and prepared work papers for Federal 1120 using Insource Express for ten companies, ensuring compliance and accuracy.
- Prepared pro-forma 1120s for individual entities along with combined 1120 for an authorized group, streamlining the tax filing process.
- Prepared State Income and Franchise Tax Returns for the same ten companies in all states with nexus including combined returns in CA and NY
- Prepared IRS Form 4562 depreciation and amortization of business assets
- Calculated state apportionment factors
- Prepared Information Returns 5471, and 5472
- Coordinated with an outside tax accountant to gather and analyze tax information for Japanese expatriates, interviewing them to ensure accuracy of individual returns filed with the IRS.
- Executed electronic design projects in manufacturing settings, focusing on precision and quality.
Education
MBA - Tax Concentration
Hofstra University
Hempstead, New York12-2007
B.S. - Finance
St. John's University
Jamaica, New York01-2001
Skills
- Tax compliance
- Multi-state tax returns
- State tax strategy
- Financial statement preparation
- IRS representation
- Amended tax returns
- Client management
Personal Information
- Title: MBA, EA
- ID Type: PTIN
- ID Number: Active
Certification
IRS Enrolled Agent February 2024
Software Proficiency
Efficient Microsoft Suite Programs including Excel, Word, Access, and PowerPoint. Tax Software including OneSource/Insourse Express - GoSystems, CorpTax, CCH ProSystem FX, and ProSeries. Knowledge and experience using research tools including the Internet, CCH and RIA online tax services. BNA tax code research tools.
Timeline
Licensed Tax Professional
Tax Defense Network
02.2024 - Current
Deloitte - Sr Tax Accountant (Remote)
Insight Global
06.2023 - 10.2023
Sr. Tax Accountant
Shissell Smallberg LLP
09.2022 - 02.2023
PricewaterhouseCoopers LLP - Sr. Tax Accountant
Judge Technical Group
01.2022 - 08.2022
Sr. Tax Accountant
Levine & Seltzer LLP
01.2019 - 12.2021
Sr. Tax Accountant
Baron & Baron LLP
06.2018 - 12.2018
Sr. Tax Accountant
Mark Levine
05.2010 - 05.2018
Sr. Tax Analyst
National Grid
01.2009 - 04.2010
Senior Tax Accountant
Eisner LLP
01.2008 - 12.2008
Sr Tax Accountant cont.
MSC Industrial Supply, Inc.
05.2001 - 05.2007
Senior Tax Analyst
MSC Industrial Supply, Inc.
05.2001 - 12.2007
Tax Accountant
TDK U.S.A. Corporation
06.1997 - 05.2001
MBA - Tax Concentration
Hofstra University
B.S. - Finance
St. John's University