OF&A Tax Accounting Internship
Office of Finance & Accounting Tax Accounting Internship
Smithsonian Office of Finance and Accounting (OF&A)
A tax accounting internship with the Office of Finance and Accounting is an opportunity for students with a passion for and curiosity in taxes to gain practical skills and experience. The program offers a part-time fall/spring program in the Crystal City, Virginia office.
The Office of Finance and Accounting is the central office for technical advice and support to the Institution’s museums, research center and Units on all matters relating to accounting and accounting operations, financial management and policy, financial systems and financial reporting. This office prepares and maintains the Smithsonian’s official accounting and financial records and reports. In addition, the OF&A prepares the Smithsonian’s financial statements, which are audited annually by an independent public accounting firm and prepares the annual information tax returns (IRS Form 990 Return of Organization Exempt from Income Tax and Form 990-T Exempt Organization Business Income Tax Return) for filing with the Internal Revenue Service:
Learning objectives for tax interns include:
- Gain basic knowledge about the 990 and 990-T tax preparation process
- Learn how to prepare various schedules of the 990 (foreign activity, fundraising events, grants, etc.)
- Learn how to determine foreign reporting requirements for alternative investments
- Learn the various parts of the K-1s related to alternative investments
- Become knowledgeable on the use of Tax software, data entry of taxable activities
- Hone research and analytical skills by assisting with various research projects (gathering data, summarizing information, analyzing variances, etc.)
- Strengthen written and oral skills through reports and correspondence
- Gain an understanding of an organization’s accounting system
Graduate students with a bachelors in accounting or business administration furthering their studies in accounting, taxes or related field. Must be organized, detail-oriented, have strong quantitative/analytical skills, and be proficient in Excel and Word.
Fall – Spring internships is anticipated to begin in mid-September and end in mid-April. Hours are part-time (10-15 hours/week).
$3,000 total for fall/spring term. 10-15 hours per week for 20 weeks. Stipend may be prorated if less than 20 weeks.
Applications for fall program should be submitted by September 30, 2018
Contact Information: Apply Through: SOLAA