Position Summary

We are seeking an experienced Senior Tax Manager to join our specialized Real Estate and Affordable Housing practice in Chicago. This role is designed for a technical expert who thrives at the intersection of complex real estate partnerships and federal/state tax incentives. You will serve as the primary advisor to developers, investors, and syndicators navigating affordable housing compliance and asset management.

The ideal candidate brings deep, practical execution knowledge of the Low-Income Housing Tax Credit (LIHTC) program under IRC Section 42, historic preservation credits, and local tax incentives specific to Illinois and Cook County.

Key Responsibilities

1. Specialized Credit Compliance & Structuring

• LIHTC & Section 42 Expertise: Oversee the compliance, lifecycle modeling, and tax return review for complex affordable housing partnerships. Ensure strict adherence to IRC Section 42 guidelines, minimum set-asides, and credit calculation rules.
• Transaction Structuring: Partner with legal counsel and syndicators to structure tiered real estate partnerships, deal allocations, and equity investments to maximize the value of federal and state tax credits.
• Multi-Asset Credit Reviews: Manage the delivery of cost segregation integration, Historic Rehabilitation Tax Credits (Section 47), New Markets Tax Credits (NMTC), and emerging green energy tax incentives (IRA 2022) as they apply to real estate portfolios.

2. Real Estate Partnership Taxation

• Complex Allocations: Lead the technical review of partnership returns (Form 1065) featuring complex target capital accounts, Section 704(b) allocations, Section 754 adjustments, and debt allocation rules.
• Local & State Expertise: Manage Illinois state tax filings, multi-state composite returns, and navigate regional property tax incentive filings (e.g., Cook County affordable housing assessment programs).
• Year-End Projections: Direct the preparation of year-end tax projections, deficit restoration obligation (DRO) analyses, and exit strategy projections for institutional investment partners.

3. Client Management & Team Leadership

• Chicago Market Presence: Act as a key relationship manager for prominent midwest real estate developers, housing authorities, and syndication funds.
• Team Mentorship: Direct and develop a team of tax seniors and managers, cultivating deep subject-matter expertise in affordable housing asset management and real estate tax codes.

Qualifications & Skills

Required Education & Experience

• Education: Bachelor’s degree in Accounting, Finance, or a related field. Master of Science in Taxation (MST) is highly desirable.
• Certification: Active CPA (Certified Public Accountant) or J.D./LL.M. is required.
• Experience: 7+ years of progressive tax experience within public accounting or a specialized real estate fund, with a minimum of 3–4 years dedicated exclusively to LIHTC/Affordable Housing compliance and structuring.

Technical & Soft Skills

• Regulatory Precision: Deep technical mastery of partnership tax law (Subchapter K) and affordable housing credit regulations.
• Software Proficiency: Experience utilizing professional tax compliance and modeling software (e.g., CCH Axcess, GoSystem, UltraTax) alongside advanced Excel modeling capabilities.
• Strategic Communication: Ability to clearly explain intricate partnership allocation mechanics and compliance risks to non-technical developers and non-profit board stakeholders.

Why Join Our Chicago Team?

• Market Leadership: Join a recognized leader in the Midwest real estate ecosystem with direct exposure to high-impact community development projects.
• Compensation & Scale: Competitive base salary ($160,000 – $225,000+ depending on specialized tenure) paired with robust performance bonuses and explicit partner-track visibility.
• Work-Life Agility: A formalized hybrid structure offering 2–3 days of remote flexibility, paired with standard Summer Fridays and compressed post-busy-season hours.