Prahallad Adoni
Freeport
Summary
Experienced Tax Manager with over 19 years of experience in U.S. federal and international tax compliance, specializing in Global Mobility Services, high-net-worth individuals (HNWIs), and single-family offices. Proven expertise in signing Expat, Inpat and domestic individual tax returns, along with review of HNWIs' returns, Forms 3520/8858/926/8621. Proficient in K-1 reporting for private equity and hedge fund clients while providing strategic tax planning for ultra-high-net-worth individuals and family offices. Specialized knowledge in PFIC reporting, cryptocurrency taxation, and IRA management, complemented by the preparation of BNA income tax planners for estimated payments and extension filings.
Overview
20
20
years of professional experience
1
1
Certification
Work History
Tax Manager
EY Bahamas Services Center Ltd
Freeport, BS, Bahamas
12.2024 - Current
- Signed Expat/Inpat/ complex tax returns and reviewed high-net-income (HNI) returns with PE,Hedge Funds,Trader K-1and PTP K-1
- Expertise in complex tax reporting and compliance, including 1061 Reclass, Like-Kind Exchanges, Installment Sales, Form 926, Form 8865, QSBS, QBI, QOZ, QOF, At Risk basis Calculation, Form 461 Excess Business loss, Form 2210 Annualization, Passive Foreign Investment Companies (PFICs), Form 8858 (Information Return of U.S. Persons With Respect to Foreign Disregarded Entities). Skilled in navigating intricate international tax regulations and ensuring accurate reporting for cross-border transactions
- Reviewed quarterly estimated payments utilizing BNA Planner
- Reviewed extension tax returns for accuracy and compliance
- Conducted training programs for senior and managerial-level professionals
- Monitored status reports, including organizer submissions and follow-ups on missing information from assignees. Ensured all files adhered to established service level agreements (SLAs) and maintained workflow efficiency throughout the tax preparation and review process
- Responded promptly to tax notices.
Senior Tax Manager
Alliantgroup
Hyderabad, IN, India
01.2020 - 11.2024
- Prepared and reviewed HNI federal and state income tax returns in accordance with applicable tax laws
- Developed compliance training initiatives and materials, educating staff on relevant regulations
- Delivered subject matter expertise to clients on compliance best practices and quality control
- Reviewed tax returns for individuals, simple trusts, and small businesses returns
- Demonstrated strong organizational and time management skills while managing multiple projects.
Tax Manager
EY Global Delivery Service, India
Bangalore, India
10.2018 - 01.2022
- Signed US Domestic Individual income tax returns
- Tax briefing after completing the tax returns
- Top level review Family Office High Net worth Individuals clients tax returns
- Identifying, researching, and assessing various tax issues while also providing information to senior staff members.
- Drafting IRS notices responses pertaining to federal and state tax notices.
Business Unit Manager
KPMG
Bangalore, India
01.2012 - 10.2018
- Signing and reviewed Domestic , Expat and Inpat Individual income tax returns
- Tax Equalizations and Tax Settlements for Global Mobility Taxpayers
- Preparation of F3520 for Canadian Tax Savings and Retirement accounts, Foreign Gifts / Bequests received
- PFIC analysis to Identify Foreign Mutual Funds using proper regime like Excess Distributions, QEF, MTM and Deemed sale elections
- Monitoring and generating status reports like, organizers received, missing information follow-ups from assignees, frontloads, frontload reviews in house work in progress, ensuring all files meet service level agreement
- Quality check on the US tax returns prepared by the return preparers and giving them feedback on the quality of the return as a whole and the areas that the preparers need to improve on
Assistant Manager
PWC SDC
Kolkata, IN, India
01.2009 - 01.2012
- Analyzing and interpretation of source documents of the taxpayer and taking a stand on the type of return that needs to be prepared for the taxpayer.
- Providing a background on what should be on the return and providing detailed information to the return preparers
Senior Associate
Deloitte India
Hyderabad, India
01.2006 - 01.2009
- Prepared tax returns, including Form 1040, 1040NR, and Dual Status returns
- Drafted responses to tax notices
- Created estimated quarterly vouchers and handled extension returns
- Compiled Tax Equalization reports for Global Mobility taxpayers
Education
Master's Degree - Accounts and Finance
Osmania University
Skills
- QBI
- Installment Sales
- Like-Kind Exchanges
- Form 3520 and Form 3520-A
- HNI
- PFIC
- PE/HF K-1's
- Crypto Tax
Certification
Enrolled Agent Licensed -2012
Tax Software
- CCH
- Gosystem
- Ultra Tax CS
- Drake
Document Management Systems
- GoFileRoom
- CCH Axcess Document
- Caseware
Alternate Mobile
+91-9164292799 Whatsapp
Timeline
Tax Manager
EY Bahamas Services Center Ltd
12.2024 - Current
Senior Tax Manager
Alliantgroup
01.2020 - 11.2024
Tax Manager
EY Global Delivery Service, India
10.2018 - 01.2022
Business Unit Manager
KPMG
01.2012 - 10.2018
Assistant Manager
PWC SDC
01.2009 - 01.2012
Senior Associate
Deloitte India
01.2006 - 01.2009
Master's Degree - Accounts and Finance
Osmania University