A Tax Accountant is involved in preparing and filing tax returns of individuals and companies. There are various other account related tasks that he is involved in. A candidate seeking a Tax Accountant’s position must have at least a bachelor’s degree or Diploma in accounting. He must also possess a thorough knowledge about auditing and taxation.
Tax Accountant Job Duties
- A Tax Accountant is involved in preparing tax returns for individuals, businesses and other firms.
- He needs to keep a track record of the unsettled or remaining taxes of the company and share them with the management.
- He is required to analyze the accounts of the company, calculate the unsettled taxes as per the given rates and the company policy and work upon settling them.
- He needs to compute the taxes as per the regulations and set rates.
- A Tax Accountant works on reducing the tax liability of the company. He discusses this issue with the management and makes plans for the same.
- He explains the management as to how the tax is impacted due to various business activities and suggests ways to lower the tax.
- A Tax Accountant makes sure that the organization abides by the tax laws such as paying periodic tax, etc.
- He instructs the management regarding the various taxing authority needs.
- A Tax Accountant is required to deal with the taxing bodies.
- He is expected to plan and prepare the tax record systems.
- A Tax Accountant is expected to resolve any tax related dispute or audit that may impact his clients.
- He makes the management understand the tax laws that apply to their company.