Case Study

WilliamsMarston Clears the Way for Dynamic Interim Tax Management

Learn how WM stepped in to support in an interim tax leadership capacity for a company at a time when they needed it most.

The Challenge

A $300 million education technology company required interim management to handle the daily operations of its tax team and support on several key projects.

A steadily growing education technology company was facing a temporary absence of its Senior Tax Manager, a trusted staff member who had been with the company for years. The question was: who would step in to oversee the day-to-day operations of the tax team?

The company had significant tax events during the year and was working through several key tax projects that would require substantial distribution to investors and shareholders, resulting in an increased focus on tax that year. Specifically, the company was working on its earnings and profits (E&P) calculation, including tax characterization of gain on distribution to the shareholders and preparing a withholding tax analysis for non-US shareholders. Additionally, there was substantial focus on the completion of the corporate and partnership income tax return filings for the prior year, which were on an accelerated timeline as the filings directly impacted the distribution gain. The company had previously communicated the accelerated timeline for K-1 delivery to its investors and shareholders, leaving no room for delays.

On top of these projects, there was also a research and development (R&D) credit study and a Section 174 study going on – both requiring additional support – and subject to deadlines.

The Solution

WM’s interim tax management team led tax compliance projects to deadline and provided additional specialty tax services.

WM deployed an interim resource immediately who partnered with the company’s controller and assistant controller as a part of their team. WM assumed responsibility for managing the day-to-day operations of the tax team, keeping the controller and assistant controller abreast of ongoing status updates, as well as supported the tax communication to senior management. The interim leader collaborated with both internal and external stakeholders, ensuring the company’s projects progressed in sequence according to internal deadlines, as each tax project was dependent on the completion of another. The timeline required extensive coordination and timely review and feedback for all deliverables. Given the complexity of the company’s tax profile, WM brought in their state and local tax (SALT) team to address state income tax and sales and use tax issues, as well as WM’s partnership tax experts to perform a partnership tax compliance review.

The Result

WM’s support ensured deadlines of special projects were hit, with the right level of expertise, while keeping the ongoing day-to-day operations moving forward.

WM cleared the way for the client to meet key deadlines, critical to subsequent deliverable timelines. Accurate K-1s were delivered to the company’s shareholders, which were of upmost importance due to the investor-level tax implications of various events and transactions. Additionally, the accelerated completion of the tax filings satisfied the company’s stakeholders and positioned the company for seamless operations moving forward.


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