Senior Tax Analyst at Abbott

Chicago, Illinois, United States

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Not SpecifiedCompensation

Senior (5 to 8 years)Experience Level

Full TimeJob Type

UnknownVisa

HealthcareIndustries

Requirements

Minimum of 4 years of international tax experience
B.A./B.S. in Accounting/Finance required
Proficiency with Microsoft applications
Strong attention to detail and effective communication skills, with the ability to work independently
Ability to perform job responsibilities within a hybrid work model that requires US Tax professionals to be in office 4 days per week

Responsibilities

Assist in the preparation, review, and filing of U.S. international tax returns (Forms 5471, 5472, 8858, 8865, 8991, 8992, 8993, 1118, 1120-F, 1042 series, and related disclosures, etc.)
Apply knowledge in U.S. international tax rules (GILTI, FDII, Subpart F, BEAT, FTC, foreign currency transactions, etc.) in meeting the reporting requirements of the Company’s global operations
Assist with the annual and quarterly tax provision processes, including review and analysis of international tax provisions, tax accounts, and reserves (working knowledge of ASC 740 tax accounting and other necessary FASB pronouncements)
Research complex tax issues and be proficient in interpreting and applying the tax law, regulations, and court cases to specific transactions and factual scenarios
Monitor legislative changes across the U.S. international tax landscape and assess their potential implications for the Company
Participate in special projects including providing support for international tax planning transactions
Coordinate responses to IRS audit information requests, gathering data to support the Company’s tax positions
Identify and implement opportunities to streamline international tax workflows using technology and automation
Support maintenance of international tax documentation and controls to meet SOX and internal audit requirements

Skills

Key technologies and capabilities for this role

US International TaxForm 5471Form 5472Form 8858Form 8865Form 8991Form 8992Form 8993Form 1118Form 1120-FForm 1042GILTIFDIISubpart FBEATFTCForeign Currency

Questions & Answers

Common questions about this position

What benefits does Abbott offer?

Abbott provides free medical coverage in the Health Investment Plan (HIP) PPO medical plan, an excellent retirement savings plan with high employer contribution, tuition reimbursement, the Freedom 2 Save student debt program, and FreeU education benefit for earning a bachelor’s degree.

Is this position remote or does it require office work?

The position is based in the Willis Tower, Chicago, IL or Abbott Park, IL locations.

What key skills are required for the Senior Tax Analyst role?

The role requires knowledge of U.S. international tax rules including GILTI, FDII, Subpart F, BEAT, FTC, and foreign currency transactions; experience with preparation and filing of forms like 5471, 5472, 8858, 8865; proficiency in ASC 740 tax accounting; and ability to research complex tax issues and monitor legislative changes.

What is the company culture like at Abbott?

Abbott emphasizes doing work that matters, personal growth and learning, caring for yourself and family, being your true self, career development in an international company, and is recognized as a great place to work, one of the most admired companies, and best for diversity, working mothers, female executives, and scientists.

What makes a strong candidate for this Senior Tax Analyst position?

Strong candidates will have expertise in U.S. international tax compliance and provisions, experience with specific tax forms and rules like GILTI and Subpart F, knowledge of ASC 740, research skills for complex tax issues, and the ability to coordinate with global teams and support audits and projects.

Abbott

Healthcare solutions in diagnostics and devices

About Abbott

Abbott Laboratories focuses on improving health through various medical technologies and health solutions. The company operates in areas such as cardiovascular health, diabetes management, diagnostic testing, nutrition, and neuromodulation for chronic pain and movement disorders. Abbott's products include advanced medical devices and diagnostic tests that help healthcare professionals and patients manage health conditions effectively. For example, their cardiovascular technologies assist in heart health management, while diabetes care products enable accurate glucose monitoring without painful fingersticks. Unlike many competitors, Abbott emphasizes accessibility and affordability in its offerings, aiming to make life-changing technologies available to a broader audience. The company's goal is to positively impact global health and well-being, supported by a commitment to sustainability and a 2030 Sustainability Plan.

Lake Bluff, IllinoisHeadquarters

1888Year Founded

IPOCompany Stage

HealthcareIndustries

10,001+Employees

Risks

Departure of key leader Dr. Adamson may affect Abbott's Heart Failure division.

Integration challenges with Medtronic could impact glucose monitor-insulin pump rollout.

Thermo Fisher's microfluidics expansion may increase competition for Abbott.

Differentiation

Abbott integrates continuous glucose monitoring with automated insulin delivery systems.

Abbott's microfluidic devices streamline diagnostic processes efficiently.

Abbott's neuromodulation products target specific nervous system areas for chronic pain relief.

Upsides

Microfluidic technology offers cost-effective solutions in diagnostics.

Strategic partnerships like Abbott-Medtronic enhance product offerings and market reach.

Significant investments indicate strong market confidence in Abbott's healthcare solutions.

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