Tax Accountant Certification
Tax accountants help individuals and businesses ensure they obey tax laws and pay the proper taxes on time. They are known public accountants and perform a wide range of accounting, auditing and tax activities for clients. Many tax accountants choose to become certified because it is often necessary for career advancement. For example, certification is required for accountants who file reports with the Securities and Exchange Commission (SEC), so any tax account who wishes to pursue a senior-level position with an SEC-registered company must obtain certification.
Other People Are Reading
-
Description
-
Tax accountants and other public accountants who wish to become certified must earn the certified public accountant (CPA) credential. It is offered through the American Institute of CPAs and requires that candidates successfully complete the Uniform CPA Examination. CPAs must be licensed by their state board of accountancy, so education and professional experience requirements for certification will vary depending on the state. Those interested in becoming a CPA should visit the National Association of State Boards of Accountancy (NASBA) to determine specific state requirements (see Resources).
Education
-
While education requirements for tax accountant CPA certification vary by state, most require accountants to complete 150 semester hours of a college program in accounting, which is an additional 30 semester hours than is required for a standard bachelor's degree. There are many colleges and universities that combine bachelor's and master's degrees in accounting in a five-year program so candidates are able to meet the 150-hour requirement. The only states that do not require 150 education hours are California, Colorado, New Hampshire and Vermont.
-
Experience
-
In many states, candidates for CPA certification must have one to two years of professional experience working under an already licensed CPA. Work experience requirements often vary based on the type of employer an accountant works for and the type of work he will perform. In addition, candidates with a master's degree may not require as much professional experience. Accountants should contact their state board of accountancy to determine specific experience requirements.
Exam
-
The Uniform CPA Examination is a four-part, computer-based exam. Candidates do not have to complete all four sections at once, but many states require that accountants pass all sections within a year and a half of successfully completing the first part. The four parts include Auditing and Attestation, Business Environment and Concepts, Financial Accounting and Reporting and Regulation. The exam has the same content regardless of the state in which the candidate wishes to become certified and includes multiple choice, simulation and written communication questions. To pass each section, accountants must score a 75 on a 0 to 99 scale. The Uniform CPA Examination is generally considered quite difficult. According to the Bureau of Labor Statistics, less than half of those who sit for the exam pass every part on the first try.
Employment Opportunities
-
The Bureau of Labor Statistics estimates that employment for accountants and auditors, including tax accountants, will increase by 22 percent between 2008 and 2018, which is a much faster rate than the average for all occupations. Tax accountants who have become certified as CPAs should enjoy especially good prospects. Opportunities will be available as staff accountants for businesses, at accounting firms and in private practice.
-
References
Resources
- Photo Credit tax forms image by Stephen VanHorn from Fotolia.com
