Karin Barratt, CPA
Vice President, Tax
Sound Beach,NY
Summary
Highly skilled VP of Tax leading the tax function for a fast-growing Fintech Company with over $6B in loan originations through their own platform. Previously managed the income tax compliance function for a UK publicly traded company with $500m+ in annual sales. Over 20 years of relevant tax experience with a mix of Big 4 and in-house. Strong tax compliance and accounting background, detail oriented, excellent organizational and analytical skills.
Overview
30
30
years of professional experience
Work History
VP, Tax
OCTANE LENDING, INC
07.2024 - Current
- First internal tax hire responsible for owning the tax management plan and IPO readiness
- Preparation of tax provision and first tax footnote disclosure in accordance ASU 2023-09
- Preparation of Federal Form 1120 and multi-state income tax workpapers, estimates, extensions, forecasts (including deferred tax valuation analysis) and review of returns prepared by outside providers
- Led IRC Section 382 study for multiple ownership changes, IRC Section 41 R&D tax credit study, IRC Section 174 as amended by TCJA implementation and IRC Section 475-Mark to market for dealers change in accounting method filing
- Managed filing and analysis of qualification for the Employee Retention Credit
- Reviewed tender offer tax consequences of Incentive Stock Options and Non-Qualifying Stock Options
- Established tax compliance calendar, income tax accounts and roll-forward
- Answered large backlog of IRS and State tax notices
- Adjusted the transfer pricing which resulted in state tax savings of approximately $200k
- Settled intercompany accounts which resulted in state tax savings of approximately $50k
- Led initial investor reporting (Forms 1065) and WHFIT reporting under Treas. Reg. Section 1.671-5 for the purchasers of our residual certificates
- Other compliance matters including NC Installment Paper Tax, Forms 1099, Forms 1042, Forms 3921, NYC commercial rent tax and assisting legal with sales finance license annual filings
- Income and sales tax nexus analysis including Voluntary Disclosure Agreements
Director, Tax
SPIRENT COMMUNICATIONS, INC
09.2020 - 11.2021
- Responsible for bringing US tax compliance in-house from Ernst & Young LLP
- US tax compliance preparation and review including Federal Form 1120 (Consolidated 20+ entities) and State C Corporation (Unitary, 30+ states) tax returns, quarterly estimates, half-year and year-end provisions, Forms 1042, 5471, 5472, federal and state income tax audits, analyze income tax expense and related balance sheet accounts
- Supervised 3 staff/seniors
- Prepared global quarterly effective tax rate and tax payment forecasts
- Responsible for the preparation and review of worldwide tax provision under IAS 12 -regions included US, UK, Hong Kong, China, India, Canada and France
- Preparation of UK tax returns and review of Canada income tax returns
- Managed the global effective tax rate alongside the VP of Tax
- Prepared financial statement tax disclosures and detailed footnotes for the Group annual report
- Interacted directly with global finance teams on all tax related compliance, planning and audits
- Performed nexus analysis for sales and income tax
- Reviewed monthly sales tax and property tax returns prepared by accounting
- Researched and analyzed technical tax issues and their impact on tax provisions and disclosures (IFRS 15 and IFRS 16)
- Responsible for developing tax internal controls for UK SOX compliance
- Maintained the global income tax calendar
- Drove various research projects on tax technical updates including Foreign Derived Intangible Income (FDII) Deduction, TCJA Meals and Entertainment Rules, UK loss restriction rules, UK patent box and UK R&D Credit
- Assisted with Section 482 transfer pricing studies
- Reviewed and maintained Forms W-8 and applicable documentary evidence for withholding tax consequences and accuracy
- Assisted with planning and review of mergers and acquisitions (asset vs. stock)
Senior Tax Accountant
ERNST & YOUNG, LLP
01.1995 - 01.2000
- Interned during college, hired as tax staff and promoted to tax senior
- Responsible for preparation and review of corporate tax returns, year-end tax provision calculations, quarterly estimates and various technical research assignments
Education
MS - Taxation
Long Island University
BBA - Accounting
Hofstra University
Skills
- Thomson Reuters-OneSource Income Tax
- Checkpoint
- Bloomberg Tax Research
- BNA Tax Portfolios
- Microsoft Word
- Microsoft Excel
- Microsoft PowerPoint
- Oracle-JD Edwards EnterpriseOne
Timeline
VP, Tax
OCTANE LENDING, INC
07.2024 - Current
Director, Tax
SPIRENT COMMUNICATIONS, INC
09.2020 - 11.2021
Senior Tax Accountant
ERNST & YOUNG, LLP
01.1995 - 01.2000
BBA - Accounting
Hofstra University
MS - Taxation
Long Island University
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