Tax managers are solely responsible for the preparation and filing of a state and federal tax documents. Further more, a tax manager develops tax strategies and policies that help his client or enterprise maintain compliance with local and federal tax laws and regulations.
In conclusion, tax managers work to identify tax problems and propose solutions. Tax managers can work in-house for a business or work as a consultant for multiple clients.
Tax managers generally have a bachelor‘s or master‘s degree in accounting, business, economics, or finance. also you may know that many states and all publicly traded companies required that tax managers have their Certified Public Accountant (CPA) license from the local state board of accountancy. Obtaining a CPA license entails education, accounting experience, and passing the Uniform CPA Examination.
Tax Manager Job: A Description Template
To write a perfect job description template for a tax manager position, you can start by using our template drafted by the team myscholarshipweb job manager below.
We are looking for a tax and accounting expert to manage and facilitate the accurate preparation and filing of our company’s state and federal tax forms. The ideal candidate is a team player who manages the tax team to greater performance, creates and implements tax plans and works with the accounting and leadership teams to identify opportunities for process improvement and potential areas of risk. The Tax Manager will ensure compliance with state federal and international tax law through a series of systems and system controls that are designed to ensure accurate, timely reporting. They will monitor current and impending changes to tax regulation and make the appropriate updates to policies and strategies. The ideal candidate is single minded in their pursuit of ensuring compliance and achieves this goal through optimizing reporting procedures and driving the successful function of the tax team.
Responsibility of a Tax Manager
The responsibilities facing a tax manager are numerous but however, there are few i have highlighted, few but yet the most important functions expected of you to carry out.
- Facilitate and manage the preparation and review company federal tax returns and the accurate, timely filing of all tax forms.
- Ensure accurate, timely filing of consolidated federal, state and local income tax returns and other business related filings.
- Find and implement opportunities for process improvement in company tax procedures.
- Develop and implement strategic tax planning for all necessary federal and state taxes.
- Manage members of the tax team as they prepare components of the company’s US federal income tax return and other tax documents.
- Plan for and develop overall return calendar and coordinate timing and inputs with tax team.
- Maintain effective control procedures over all aspects of the tax process.
- Manage and facilitate IRS income tax audits: preparing responses, creating schedules, etc.
- Monitor legislative and regulatory tax law developments, communicate the effects of these developments to management and the tax team and create strategies to capitalize on changes to taxation legislation.
- Provide support with various internal audits and special tax related projects.
- Review tax returns and quarterly/yearly tax projections.
- Manage and mentor members of tax team to greater levels of effectiveness and engagement.
Qualifications for Tax Manager Job
A Tax manager should have the below qualifications.
- Extensive individual/corporate/partnership tax knowledge
- Strong accounting, analytical, and research skills.
- Excellent written and oral communication skills.
- Strong knowledge of tax code, compliance and procedures for corporations.
- Familiarity with U.S. federal, state and local reporting requirements.
- Strong experience with a variety of tax operations and ability to drive process improvements.
- Strong ability to utilize project management and accounting best practices to organize and prioritize tasks and the tasks of other tax team members.
- Ability to work well independently as well as the ability to work well with stakeholders and communicate the benefits of tax initiatives.
- Strong organizational and interpersonal skills.
- We are looking for a candidate with 5+ years of experience in a tax manager or public accountant role and at least 2 years of experience in a management role. Preferred candidates have a current CPA license and a master’s degree in an accounting discipline. The Tax Manager must be proficient with the following software/tools
Tax Managers Salary
A fully employed tax manager working for a firm or for the government earns of the average a salary of $106,000 – $174,000 Yearly. The salary varies mostly due to the nature of the employing firm, their production rate, output and other factors.
Tax managers Interview Questions
- Any individual applying for the post of a tax manager should expect these questions during interview.
- Questions regarding to your job and it’s perfect description.
- Questions from your college project report and proper analysis.
- A tax manager to be should be ready to defend his course and how he managed to graduate from college
- Finally he should have good morals and doggedness towards his work.
Tax managers are highly needed in the economies of the world, you can be one today if you wish.