Job Description for a Tax Director
A tax director is a senior finance professional who oversees a company's tax planning, recording and payment activities and ensures that tax processes and policies comply with regulatory requirements and fiscal rules at federal, state and local levels.
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Responsibilities
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A tax director's main focus is on compliance and accuracy. Compliance relates to tools, policies and guidelines that a company's top management puts into place to ensure that employees comply with fiscal regulations when performing tasks. A U.S.-based company must abide by Internal Revenue Service rules as well as state and city fiscal requirements. A tax director also ensures that fiscal and accounting records are accurate, complete and filed on time with government officials.
Education/Training
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A tax director typically holds a four-year college degree in a business field. An employee who holds a liberal arts (e.g., psychology or education) degree also may receive on-the-job training. More tax auditors currently have master's degrees in accounting, tax, audit or finance. Professional certifications, such as certified public accountant (CPA), enrolled agent (EA) and certified financial manager (CFM) designations, are also popular among tax directors.
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Salary
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A tax director's total compensation may include wages and cash or stock bonuses and typically depends on length of service, company size, professional or academic qualifications and industry. The Labor Department's Bureau of Labor Statistics reports than median wages of tax directors were $59,430 in 2008. The same report indicates that the middle half of the occupation earned between $45,900 and $78,210, the bottom 10 percent earned less than $36,720, and the top 10 percent earned more than $102,380.
Career Development
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A tax director's chances of promotion typically depend on industry, employee competence and changes in the top echelon of a corporation. A tax director who holds a CPA or an EA designation may have more career growth opportunities. Alternatively, this employee may enroll in a doctorate degree program to increase chances of promotion. A tax director typically moves to senior roles (e.g., controller, finance chief or accounting director) after a few years.
Work Conditions
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A tax director typically works more than 40 hours a week, usually from 8 a.m. to 6 p.m. As a senior finance employee, a tax director may attend late night, early morning or weekend strategic meetings with top management. For instance, a tax director might travel abroad to attend a senior-level meeting about international fiscal rules and how they affect specific industries. A tax director also may work late nights at the end of a quarter to help file corporate income returns.
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References
- Photo Credit tax forms image by Chad McDermott from Fotolia.com
