Sunil Kumar Somashekar
Dallas
Summary
Accomplished tax professional with 12 busy season experience and expertise in preparing complex tax returns for individuals and businesses. Utilizes strong technical knowledge and experience to accurately and efficiently complete tax returns. Detail-oriented in problem-solving and planning. Proven track record in reducing tax liabilities by up to 30%, managing teams of up to 4 junior tax staff, and successfully negotiating settlements with the IRS.
Overview
12
12
years of professional experience
1
1
Certification
Work History
Tax Manager
Morris & D'Angelo
07.2023 - Current
- Developed and implemented tax planning strategies for a high-net-worth individual, resulting in a 20% reduction in their overall tax liability.
- Managed a team of 4 junior tax staff/supervisors, providing guidance and training that resulted in a 15% increase in their productivity and accuracy.
- Represented a client in an audit with the IRS, successfully negotiating a settlement that reduced their tax liability by 30%.
- Developed and maintained relationships with clients to ensure their tax needs were met and identified opportunities for additional services
- Received appreciation from clients and partners for exhibiting exceptional client service.
Senior Tax Specialist - Private Client Services
KPMG
01.2023 - 07.2023
- Prepared, Reviewed & successfully filed 200+ US Individual tax returns and US corporate, estate, and trust tax returns
- Specialized in preparation of complex tax forms such as Estate tax return Form 706/706-NA, Form 5471, Form 3520/3520-A, reporting of PFIC's on F8621 and streamlined filing for delinquent clients
- Prepared US corporate federal and state tax returns - Form 1120, 1120F (including treaty-based), Form 1065, Form 1041
- Reviewed income statements and documentation of expenditures to determine forms needed to prepare tax returns
- Prepared and submitted IRS federal and state notice responses by providing relevant documents, resulting in 100% penalty reductions for clients
- Demonstrated managerial leadership by guiding workflow and dividing and assigning responsibilities across offshore/onshore teams
- Developed an in-depth understanding of the latest tax laws and regulations and trained new-hires
- Calculated form preparation fees according to return complexity and processing time required, generating additional revenue to the firm
- Interviewed clients to obtain additional information on taxable income and deductible expenses and allowances.
Senior Cross-Border Tax Accountant
GGFL LLP
09.2020 - 10.2022
- Prepared federal and multi-state tax filling for high net-worth individual(s), small to medium corporate, and partnership with assets ranging from $ 2 million to $10 million
- Provided a detailed tax technical training for entire US tax division on new rules & regulations, foreign tax credit calculation, sourcing schedule, CCH Prosystems etc
- Resolving tax inquiries/notices from both IRS and CRA, requesting transcripts online and proactive follow-up with clients
- Allocating work appropriately, providing feedback on work quality/areas for improvement to tax staff, and focusing on meeting client deadlines
- Primary point of contact for clients and partners of tax, audit, assurance etc on any questions related to US tax
- Successfully worked in a different time zone during tax busy season and was always available for junior staff to provide guidance and answer client/partner questions.
Senior Tax Accountant
Durward Jones Barkwell & Company LLP
10.2018 - 04.2020
- Participated in special projects such as shadow payroll calculation, preparation of Form 8854 for the renouncement of US Citizenship, application for withholding certificate Form 8288-B, Sales tax assessment and publishing of US & Cross border tax-related articles
- Identified new business opportunities during interaction with the client and utilize third-party software to prepare Form 1099 resulting in multiple client referrals and injection of additional income to the firm.
Senior Tax Accountant
Madan Chartered Accountants
01.2018 - 06.2018
- Involved in a mainly client-facing role in conducting tax briefings for the clients
- Provided external research and analysis necessary to help develop and support ongoing client engagements
- Handled federal and state IRS tax notices, client database, and payment requests for clients
- Facilitated the complete tax return process from conducting initial tax briefing, creating engagement letters, providing tax advice, billing coupled with providing payment, and filing instructions.
U.S. Tax Senior
Ernst & Young LLP
10.2012 - 11.2017
- Handled complex VIP tax returns and maintained a database to ensure all out of scope activities were captured to bill the client accordingly
- Operated as a CCH tax software champion to resolve tickets raised internally
- Also provided regular updates to the entire team on newly implemented rules and tax policies
- Assisted in monthly review of Tax Equalization Outstanding Collections Report and served as a workpapers Golden Button Champion to help tax folks by resolving issues with newly implemented online global organizers during busy season
- Supervise, train, and mentor analysts and advanced analysts on tax technical.
Education
Master Of Business Administration (M.B.A.) In Finance -
Dayananda Sagar University
Bangalore, India01.2012
Bachelor Of Engineering In Electronics And Communication -
Visvesvaraya Technological University
Bangalore, India01.2010
Skills
- Exceptional client service Private client service and global mobility
- Federal, State and Local Tax Returns Corporate, Trust and Partnerships
- Tax Consulting Tax Software - CCH ProSystem (Advance level), Taxprep, Go system, Ultra tax, Caseware, DocIt, Client Track, VPM
- Local, State and Federal Regulations Taxation Document Inspection
- IRS Correspondence Multi-State and Local Tax Filing
- IRS Streamlined Procedure
- Tax savings identification and implementation
- Multinational tax strategy implementation
Certification
IRS Special Enrolled Agent Examination (SEE):
- Part I - Individuals
- Part III - Representation, Practices and Procedures
Timeline
Tax Manager
Morris & D'Angelo
07.2023 - Current
Senior Tax Specialist - Private Client Services
KPMG
01.2023 - 07.2023
Senior Cross-Border Tax Accountant
GGFL LLP
09.2020 - 10.2022
Senior Tax Accountant
Durward Jones Barkwell & Company LLP
10.2018 - 04.2020
Senior Tax Accountant
Madan Chartered Accountants
01.2018 - 06.2018
U.S. Tax Senior
Ernst & Young LLP
10.2012 - 11.2017
Master Of Business Administration (M.B.A.) In Finance -
Dayananda Sagar University
Bachelor Of Engineering In Electronics And Communication -
Visvesvaraya Technological University
IRS Special Enrolled Agent Examination (SEE):
- Part I - Individuals
- Part III - Representation, Practices and Procedures
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