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Key Responsibilities and Required Skills for a Tax Assistant

💰 $45,000 - $65,000

AccountingFinanceTaxProfessional Services

🎯 Role Definition

A Tax Assistant is a foundational role within the accounting and finance landscape, serving as the backbone of a tax department in either a public accounting firm or a corporate setting. This position is primarily focused on supporting senior tax professionals by handling the essential, detail-oriented tasks associated with tax compliance and provision. The Tax Assistant is instrumental in gathering, organizing, and processing the vast amounts of financial data required for accurate tax return preparation. They ensure that all documentation is in order, preliminary calculations are correct, and compliance deadlines are meticulously tracked. This role provides a critical learning ground for understanding complex tax laws and procedures, making it an essential stepping stone for a successful career in taxation.

📈 Career Progression

Typical Career Path

Entry Point From:

  • Accounting Intern or Tax Intern
  • Accounts Payable/Receivable Clerk
  • Bookkeeper

Advancement To:

  • Tax Staff Accountant / Tax Analyst
  • Senior Tax Accountant
  • Tax Manager

Lateral Moves:

  • General Staff Accountant
  • Financial Analyst

Core Responsibilities

Primary Functions

  • Actively participate in the preparation of federal, state, and local income tax returns for a diverse portfolio of clients, including individuals, partnerships, S-corporations, and C-corporations.
  • Systematically gather, organize, and manage essential client financial data, including trial balances, general ledgers, and supporting documentation, to ensure a complete and accurate basis for tax preparation.
  • Prepare detailed and well-documented tax workpapers that clearly support the figures and positions taken on tax returns, facilitating a smooth review process by senior staff.
  • Utilize professional tax preparation software, such as UltraTax CS, ProSystem fx Tax, or Lacerte, to accurately input client data and generate tax returns and supporting forms.
  • Conduct foundational tax research on straightforward tax issues using online research tools like CCH IntelliConnect or BNA Tax & Accounting Center to support conclusions reached by the tax team.
  • Assist in the preparation and processing of quarterly estimated tax payments and annual extension filings, ensuring timely submission to avoid penalties and interest.
  • Diligently track and maintain the firm’s master tax calendar to monitor all critical compliance deadlines for filings, payments, and other statutory requirements.
  • Respond to routine notices and inquiries from various tax authorities, such as the IRS and state departments of revenue, by drafting correspondence under the supervision of a Tax Senior or Manager.
  • Aid in the calculation of quarterly and annual income tax provisions (ASC 740), including the reconciliation of income tax payable and deferred tax accounts.
  • Maintain detailed fixed asset and depreciation schedules for multiple entities, ensuring the correct application of depreciation methods and bonus depreciation rules.
  • Perform in-depth analysis and reconciliation of key general ledger accounts to identify transactions with tax implications and ensure they are treated correctly for tax purposes.
  • Provide crucial support during federal and state tax audits by gathering requested documentation, preparing schedules, and assisting with the formulation of responses.
  • Prepare and file various other compliance forms, including personal property tax returns, annual reports, and business license renewals.
  • Assist with the year-end process of preparing, reviewing, and filing Forms 1099-NEC, 1099-MISC, and other informational returns for clients and vendors.
  • Organize, scan, and electronically file client documents and final tax returns within the firm’s document management system, ensuring data integrity and confidentiality.

Secondary Functions

  • Support senior team members with ad-hoc projects related to tax planning strategies, entity structuring analysis, and M&A transaction due diligence.
  • Contribute to the continuous improvement of internal tax department processes and workflows by identifying opportunities for increased efficiency and accuracy.
  • Assist with client onboarding by setting up new clients in the firm's systems and communicating initial information requests.
  • Help prepare presentation materials and reports for client meetings and internal training sessions.
  • Participate in firm-wide training to stay current on evolving tax legislation, software updates, and industry best practices.

Required Skills & Competencies

Hard Skills (Technical)

  • Tax Software Proficiency: Hands-on experience with at least one major tax preparation software package (e.g., UltraTax CS, ProSystem fx, Lacerte, GoSystem).
  • Microsoft Excel Mastery: Advanced ability in MS Excel, including proficiency with PivotTables, VLOOKUP, SUMIF, and other complex formulas for data manipulation and analysis.
  • Accounting Principles: Solid understanding of Generally Accepted Accounting Principles (GAAP) and the ability to read and interpret financial statements.
  • Tax Law Knowledge: Foundational knowledge of federal and state tax regulations, concepts, and compliance requirements for various entity types.
  • Data Management: Skill in organizing large volumes of data from multiple sources and maintaining immaculate digital and physical records.
  • QuickBooks/ERP Experience: Familiarity with accounting software like QuickBooks, Sage, or other ERP systems to extract financial data.

Soft Skills

  • Extreme Attention to Detail: A meticulous and precise approach to work is non-negotiable, as small errors can have significant financial consequences.
  • Exceptional Organizational Skills: The ability to manage multiple projects, prioritize tasks effectively, and track numerous deadlines simultaneously in a fast-paced environment.
  • Clear and Professional Communication: Strong written and verbal communication skills for interacting with team members and, occasionally, clients to request information or provide updates.
  • Analytical Problem-Solving: The capacity to identify discrepancies, research potential issues, and propose logical solutions to senior staff.
  • Time Management: A proven ability to work efficiently under pressure and consistently meet tight deadlines without sacrificing quality.
  • Discretion and Confidentiality: A deep respect for and ability to handle sensitive client financial information with the utmost confidentiality.

Education & Experience

Educational Background

Minimum Education:

  • Associate's degree in a relevant field.

Preferred Education:

  • Bachelor's degree from an accredited university.

Relevant Fields of Study:

  • Accounting
  • Finance
  • Business Administration (with an Accounting concentration)

Experience Requirements

Typical Experience Range: 1-3 years of relevant experience.

Preferred: Experience in a public accounting firm's tax department or a corporate tax environment is highly desirable. An internship in a similar setting is often considered valuable experience.

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