Eva Wang feels ready to rock her tax internship at PwC this summer. Wang, a student in Robinson’s Master of Taxation program, has tackled a bunch of practical assignments in classes with Dr. Lynn Comer Jones.
As part of Advanced Federal Taxation, Wang and two teammates completed a tax return on behalf of a mock corporate client. But Wang and her classmates encountered several twists and turns requiring extensive research along the way.
“We couldn’t just Google a solution,” Wang said. “We spent hours reading through court cases and IRS regulations.”
For example, Wang didn’t know how to handle an M-1 adjustment, which involves the reconciliation of book and taxable income; in other words, deferred income recorded on a firm’s financial statement might not be deducted within a tax return for the same year.
For the final project in Tax Research, Wang pored over complex tax scenarios and wrote short memos for hypothetical clients. One such client was an international student with an F-1 visa who earned money at school and sought advice on submitting a tax return. Another example: a German company that did business in the United States and needed to appropriately report the revenue.
Wang hopes to have secured a full-time position at a public accounting firm by graduation this fall.
“I’d love to stay at PwC for a few years,” she said.