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3rd year Law student, (Credit Funds Tax) Part-time

New York

Credit Funds

Ref#: 2910

Date published: 12-Jul-2022

Part-time Law student, Credit Funds Tax

New York, NY 

About Fortress

Fortress Investment Group LLC is a leading, highly diversified global investment manager with approximately $53.0 billion of assets under management as of March 31, 2022. Founded in 1998, Fortress manages assets on behalf of over 1,750 institutional clients and private investors worldwide across a range of credit and real estate, private equity and permanent capital investment strategies. Investment performance is our cornerstone - we strive to generate strong risk adjusted returns for our investors over the long term. For additional information on Fortress, please visit www.fortress.com.

About the Position 

The Part-time law student will work principally in a legal capacity as a member of the Credit Tax team at Fortress reporting to the Head of Tax and Structuring, Fortress Credit Funds. This position will be responsible for documentation and project management supporting the Credit Tax team. A tax background is not required but would help the successful candidate get up to speed more quickly. The individual will work closely with the attorneys in the Credit Tax structuring team, as well as members of the Credit Tax compliance team and others in various groups, including Accounting, Operations, and Investor Relations. 

Hours: Part/time and flexibility to work remotely.

o You will be a Member of the Tax Compliance team supporting the Credit Funds, including responsibility for the tax management of the Drawbridge Special Opportunities Funds, Lending Fund(s), Legal Assets Fund(s) and various special purpose vehicles

o Work closely with the accounting team and fund administrator (SEI) to ensure all essential financial data is provided to external tax preparers

o Help to Ensure timely and accurate federal, state/local and foreign income tax filings, withholding tax reporting, as well as Schedule K-1, Schedule K-3 and Form 1042-S reporting to investors

o Understand fund and investment level tax structuring and ensure proper tax reporting

o Assist in day to day tax management as well as tax planning and restructuring of investments including evaluation of asset write-offs

o Respond to investor, management and tax authority queries and requests

o Manage collection of external flow-through Schedule K-1’s from lower-tier investments

o Review tax workpapers for partnerships and corporations: book/tax differences, allocations, state and foreign tax calculations as well as tax analysis on various financial transactions

o Review federal, state/local and foreign income and informational tax returns for partnership, trust, REIT, and corporate entities

o Prepare/review quarterly withholding and estimated tax payments

o Work with tax advisors and colleagues to continually review and implement process improvements utilizing technology solutions

o Assist in the coding of assets for tax characteristics including state sourcing

o Assist in various recurring tax projects such as FBAR, FATCA, CRS, State Composite Elections, etc.

The ideal candidate will be a 3rd year Law student and should have

o Bachelor’s Degree in Accounting, CPA required

o Proficiency with MS Excel, Word and PowerPoint

o Strong communication and organizational skills, attention to detail and prioritization capabilities

o Excellent interpersonal skills and ability to work as a team player across the Finance organization

Fortress Investment Group LLC collectively with its subsidiaries and operating affiliates is an equal opportunity employer and considers all applicants for employment without regard to race, religion, creed, color, sex, age, national origin, citizenship status, disability, genetic information, protected veteran status, marital status, sexual orientation, gender identity, or any other status protected by federal, state or local law.