Tax Accountant Job Description, Duties, and Responsibilities

Updated December 29, 2020
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Tax Accountant Job Description

Tax accountants are hired in organizations where the need to file taxes is present – which probably means that all companies are their employers.

The work of a tax accountant includes filing federal, state, and local tax documents, and preparing tax provision schedules.

Their work is quite complicated in the sense that it requires the individual performing it to be exceptionally good with numbers and calculations, as any error may mean quite a catastrophe for the company.

There is a lot that a tax accountant is expected to do. From devising tax strategies to deferring or eliminating tax payments, to coordinating tax audits, and everything in between is the responsibility of a person working in this position.

Moreover, a tax accountant needs to possess a particular kind of personality to make him or her success at this work. That includes the ability to plan strategically, handle financial diagnosis activities, and possess excellent reporting skills.

Since tax matters are sensitive, it is important for the people aspiring to work at this position to be exceptionally talented in keeping information confidential and ensure its integrity.

Here is a list of job duties particular to the position of a tax accountant:

Tax Accountant Duties & Responsibilities

• Create, develop, and implement tax strategies, aimed at deferring or eliminating tax payments.

• Develop and implement well-placed tax collection systems, and complete tax reporting promptly.

• Prepare tax provision schedules, and ensure that they are timely updated.

• Coordinate audits, and update the company’s sales tax database, as and when tax rates change.

• Identify tax-related issues and problems, and ensure that they are communicated to the management.

• Prepare federal, corporate and state income tax returns, and ensure that they are timely filed.

• Perform tax and accounting research activities, and handle tax supporting schedules, such as depreciation, and reconciliation.

• Perform tax research and planning activities, and monitor and reconcile tax accrual accounts on a periodic basis.

• Prepare periodic tax provision calculations, in accordance with federal and state laws.

• Identify ways to save tax, and provide suggestions to increase profits.

• Recommend tax strategies to the management, which align with the company’s business goals.

Tax Accountant Job Description: Educational & Skills Requirements

To work as a tax accountant, you have to possess at least a bachelor’s degree in accounting.

If you have had some prior experience in this regard, you will, of course, be considered an excellent choice to hire, but some companies may hire you even if experience has not been your best friend.