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Tax Accountant Job Description

Tax Accountants prepare efficient tax strategies to save their clients money. Learn more about what exactly Tax Accountants do in this detailed guide.

 

Unlike traditional accountants who tend to their clients’ overall financial statements and positions, Tax Accountants focus solely on a client’s taxes. This type of accounting is regulated by the Internal Revenue Code, which outlines specific tax laws that both individuals and businesses have to follow when filing their tax return documents. They also work during tax season to reduce, eliminate, or delay the amount of taxes that must be paid, while staying within all IRS laws, guidelines, and regulations.

 

One of the biggest key performance indicators for Tax Accountants is profit. On a daily basis, a Tax Accountant’s goals and objectives are to aid their client in achieving financial goals. Success as a Tax Accountant is calculated by the financial stability and security of their clients.

 

Education Requirements

  • Bachelor’s Degree with an emphasis in mathematics, finance, or accounting
  • Tax accountant certification in order to file anything with the SEC

Tax Accountant Essential Skills

  • Analytical abilities
  • Critical thinking skills
  • Effective communicator
  • Exceptional math skills
  • Organizational expert

Tax Accountant Roles & Responsibilities

  • Eliminate, minimize or defer tax payments using proper regulations
  • Prepare clients for audits
  • Stay up-to-date with tax laws and regulations
  • Ensure that financial documents and statements comply with law and regulations
  • Assess financial information and identify risks, then make recommendations to fix any risks

Day-to-Day Duties

  • Research and maintain tax and financial records for clients
  • Create feasible budgets and strategies to help clients stay within budget
  • Prepare, complete, and file tax returns for individuals and companies
  • Monitor and respond to tax authority communications
  • Use accounting procedures to identify any potential risks for fraud
  • Offer advice and suggestions on reducing costs and improving profits
  • Prepare tax forms and documents
  • Assist clients with tax audits
  • Identify any taxes owed or to be received

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