Becoming a Tax Specialist – Career Information and Opportunities for Taxation Graduates

A tax specialist acts as an important link between taxpayers and local and national government agencies that collect taxes from citizens. This professional is entrusted with a number of responsibilities. High pay, job benefits and job security characterise the career of a tax specialist. Job growth in this field is also quite decent.

What to expect in a career as a tax specialist

• Higher-than-average annual salary
• Good compensation package at the federal level
• Opportunity to progress to a higher position, like revenue agent, with work experience

Challenges you have to face in this career

• Delivering quality work under pressure
• Ongoing education to keep abreast with the new laws and regulations

Now, let us move on to make you familiar with the duties and responsibilities of a tax specialist, the qualifications to become one and the pay package involved in this career.

Duties and responsibilities you have to perform

Using their expertise, tax specialists handle several duties related to tax and accounting. The responsibilities differ from one position to another. However, the typical duties of a tax specialist include managing accounts, preparing monthly sales tax reports, carrying out taxpayer surveys, evaluating financial statements and offering assistance to taxpayers during the tax-paying season.

The investigation of fraud taxes from the citizens is the duty of a tax specialist. This professional has the responsibility to ensure that the taxes have been collected properly. Tax specialists test the functionality of the taxing systems that are already implemented. Up-to-date knowledge of tax laws and regulations is essential to accomplish these tasks.

Qualifications you need to have

In order to become a tax specialist, you need to possess a bachelor’s degree in finance and accounting or in any other relevant discipline. Some tax specialist positions at the local and federal government level accept an associate degree (in place of a bachelor’s degree) with work experience in a related field.

Professional skills you should possess

Along with educational qualifications, certain professional skills are also required to excel in this field. Requirements vary according to the levels of government but there is a common skill set that every employer wants in a tax specialist.

• A strong base of knowledge in tax laws
• Good knowledge of spreadsheet and data entry
• Analytical skills
• Mathematical aptitude
• Communication skills, both oral and written
• Ability to build amicable professional relationships
• Multitasking skills
• Capability to provide help to taxpayers during tax-filing season
• Higher concentration level

These skills are crucial for succeeding in this career.

Other skills

You have to demonstrate good research and organisational skills to start a career as a tax specialist since employers prefer a candidate for the position of tax specialist who

• Has the ability to research thoroughly for managing tax forms and other significant documents

• Can devise plans and procedures to collect outstanding funds from taxpayers in his or her jurisdiction

• Will be responsible for assembling and maintaining the financial reports for the federal government

Employers of Tax Specialists

Apart from the local and federal government agencies, a tax specialist can find jobs in accountancy firms, specialist tax consultancies, banks and law firms.

Working conditions and Career Prospects

The compensation package is determined by the specialisation of the professional and the location and size of the company where he or she is employed. A tax specialist can advance to a higher position with experience.The March/April time-period is busy for tax specialists since this is the beginning of the tax-paying season. Apart from that, these professionals are required to work a standard 40-hour per week.

Job market analysts are of opinion that employment growth is promising for tax specialists. In the next five to six years, there will be an increase in the number of jobs for these professionals.

Part-time job opportunities are common for tax specialists. When looking for jobs, you can consider this option to gain hands-on experience.

Work experience is essential

Only a bachelor’s degree in accounting or any business-related discipline may not benefit you in finding the best opportunity. That is why it is essential to acquire work experience in related fields like bookkeeping or auditing. Working as a bookkeeper or an auditor is a good way to get started in this career. Also, this will increase your competency and offer you an edge over other candidates.

A tax specialist makes sure that the individuals, small-sized businesses and large-scale companies pay the right amount of tax. Therefore, you have an important role to play when you embark on this career.

Daniel Smith is a recruitment advisor. He has several blogs where he discusses things related to recruitment in different industries. He is also a freelance writer who writes on topics like accounting recruitment, financial services recruitment and so on. While writing on these topics he takes inspiration from Investigo.

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