Payroll Tax Coordinator Job Description
A payroll tax coordinator applies fiscal acumen and accounting skills to ensure that a corporation abides by Internal Revenue Service guidelines and state or local tax laws when it processes employee salary data. A payroll tax supervisor also partners with corporate tax and accounting departments to ensure that the firm pays payroll taxes on time.
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Responsibilities
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A payroll tax coordinator periodically reviews a corporation's employee salary information to ensure that taxes withheld are accurate, complete and conform to governmental fiscal directives. For instance, a payroll tax supervisor at an insurance firm may review bi-weekly salary worksheets to ensure that accountants withdraw correct amounts for Social Security, unemployment and disability insurance taxes. A payroll tax coordinator also ensures that employees stay up-to-date with changes in fiscal regulations at the local, state and federal levels.
Education and Training
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A payroll tax coordinator typically holds a four-year college degree in taxation, accounting, auditing or finance. A liberal arts major also may enter the field, but he must receive practical training before performing his duties. A payroll tax supervisor with significant managerial duties usually holds an advanced degree, such as a master's or doctorate, in accounting, taxation or finance. A professional with a certified public accountant license also is common in the field.
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Salary
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A payroll tax manager's total compensation may include wages, as well as cash and stock bonuses. Salary levels may depend on seniority or length of service. The U.S. Labor Department reports that median annual wages of payroll tax coordinators were $59,430 in 2008, with the middle half of the occupation earning from $45,900 to $78,210. The same research indicates that 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 payroll tax coordinator can improve his chances of promotion by seeking a higher academic degree or professional license. To illustrate, a payroll tax manager with a bachelor's degree could enroll in a university's master's of business administration program in financial management, and graduate. Or she could seek a CPA license from a state's board of accounting or an Enrolled Agent designation from the IRS. A competent payroll tax supervisor moves to a senior role within three to five years.
Working Conditions
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A payroll tax manager works a 40-hour week, standard 8:30 a.m. to 5:30 p.m. schedule. However, business conditions or regulatory deadlines may require a longer stay at the office. For instance, a payroll tax supervisor at an insurance company may work late nights, early mornings and on weekends to help the company send regulatory documentation to the IRS or a state's insurance commissioner.
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References
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