Tax Specialist Job Description
A tax specialist, or analyst, applies fiscal acumen, accounting expertise and compliance knowledge to ensure that a company's tax-reporting systems adhere to federal, state and local regulatory guidelines. A tax analyst usually holds a four-year college degree, although a senior professional may have an advanced degree such as a master's or doctorate.
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Responsibilities
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A tax specialist helps a company conform to fiscal laws and regulations at the federal, state and local levels. She works under the guidance of a senior professional to ensure that employees adhere to tax rules when performing their tasks and that such rules comply with industry practices and accounting principles. A tax specialist also may partner with accountants to compute a corporation's fiscal liabilities.
Education and Training
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A tax specialist having vast managerial responsibilities or working for a large organization may hold a master's degree in taxation or an enrolled agent (EA) designation. A certified public accountant (CPA) license is also common among tax analysts who have prior public accounting experience or hold supervisory duties. However, a typical tax analyst job requires a bachelor's degree in accounting, auditing, taxation or business management.
Salary
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A tax specialist's compensation depends on his academic level, professional certifications, seniority and length of service. The size of the company for which he works as well as its industry and staffing needs also may affect salary levels. The U.S. Labor Department reports that median annual wages for tax specialists were $59,430 in 2008, excluding bonuses, with the bottom 10 percent of the occupation earning less than $36,720 and the top 10 percent earning more than $102,380. A junior tax specialist earns less. The same research indicates that median annual wages for junior tax specialists or tax trainees were $32,510, with the top 10 percent of of the profession earning more than $49,260 and the bottom 10 percent earning less than $20,950.
Career Development
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A tax analyst may be promoted faster if she seeks a higher academic degree or professional certification. For instance, a tax specialist can improve her chances of advance by enrolling in a university's master's of taxation program and graduating. A tax specialist who is skilled and productive may move to a senior role, such as senior tax specialist, tax manager or tax supervisor, within two to five years.
Working Conditions
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A tax specialist's work schedule may depend on business needs, but he usually works a standard 8.30 a.m. to 5.30 p.m. shift on weekdays. Busiest times for a tax analyst may be the end of the month or quarter, when he works longer hours to help a company file its regulatory information with the Internal Revenue Service (IRS).
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Related Searches
References
- Photo Credit A young woman holding a pen, doing her taxes image by Christopher Meder from Fotolia.com
