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Key Responsibilities and Required Skills for Tax Intern

💰 $18 - $30 / hour (depending on location and organization)

TaxInternshipAccountingFinance

🎯 Role Definition

A Tax Intern supports the tax department by assisting with compliance, research, data collection, and tax reporting tasks. This hands-on internship gives exposure to individual, corporate, partnership, and multi-state tax matters, tax technology, and audit support. The Tax Intern will work closely with staff accountants, tax managers, and partner teams to prepare returns, build workpapers, and communicate tax positions. Ideal candidates are pursuing accounting or finance degrees, have foundational knowledge of tax concepts, and demonstrate strong analytical and communication skills.

📈 Career Progression

Typical Career Path

Entry Point From:

  • Accounting or Finance Internships (audit, corporate accounting, bookkeeping)
  • Recent Bachelor’s degree in Accounting, Finance, or related field
  • Student tax assistant roles or volunteer tax-prep clinics (e.g., VITA)

Advancement To:

  • Tax Associate / Junior Tax Accountant
  • Staff Accountant (Tax)
  • Senior Tax Associate → Tax Senior → Tax Manager
  • Corporate Tax Analyst / State & Local Tax (SALT) Specialist

Lateral Moves:

  • Audit Associate
  • Advisory / Consulting Analyst (tax advisory, transaction services)
  • Corporate Financial Reporting / Accounting Operations

Core Responsibilities

Primary Functions

  • Assist in the preparation and review of federal, state, and local income tax returns for individuals, partnerships, corporations, and S-corporations, ensuring accurate data entry and adherence to filing deadlines.
  • Support the tax compliance process by compiling tax workpapers, reconciling general ledger accounts to tax schedules, and preparing detailed supporting schedules for tax returns and filings.
  • Conduct targeted tax research on federal and state statutes, regulations, revenue rulings, and administrative guidance; summarize findings in clear, citation-backed memoranda for senior staff and managers.
  • Input and verify client accounting and tax data using tax preparation and compliance software (e.g., Lacerte, ProSeries, UltraTax, CCH Axcess, ONESOURCE), ensuring proper file management and version control.
  • Assist with month-end and year-end tax provision (ASC 740) workpapers, including deferred tax calculations, book-to-tax adjustments, and reconciliations used for financial reporting.
  • Perform multi-state apportionment calculations, nexus research, and state tax allocation analysis to support SALT compliance and planning initiatives.
  • Prepare and file sales and use tax returns, assist with sales tax research, and support remittance processes in coordination with accounts payable and treasury teams.
  • Collect, organize, and validate client-provided documentation (K-1s, 1099s, W-2s, trial balances) and follow up with internal or external stakeholders to resolve missing or inconsistent data.
  • Support tax audits and examinations by assembling requested documentation, developing response workpapers, and coordinating with auditors and tax managers to address inquiries.
  • Assist in the preparation of tax footnotes and disclosures for financial statements, providing documentation and reconciliations necessary for external reporting.
  • Help evaluate tax credits and incentives (e.g., R&D credits, payroll credits), prepare supporting workpapers, and gather substantiation required for claims and filings.
  • Participate in tax-related due diligence for mergers, acquisitions, and transactions by preparing transaction schedules, analyzing tax attributes, and assembling historical tax data.
  • Reconcile tax accounts and sub-ledgers to the general ledger, identify variances, and document the tax impacts of book-to-tax differences.
  • Conduct quality control and peer review of assigned workpapers and tax calculations to ensure completeness, accuracy, and compliance with firm standards.
  • Support automation and process-improvement projects such as template standardization, checklist creation, and tax data mapping to streamline compliance tasks.
  • Maintain and update tax calendars, track filing deadlines and estimated tax payments, and escalate at-risk deadlines to managers.
  • Assist in the development and maintenance of internal tax databases and client tax records, ensuring secure storage and adherence to confidentiality policies.
  • Participate in client-facing calls and meetings to document action items, prepare follow-up materials, and present factual findings under supervision.
  • Monitor legislative and regulatory tax developments, prepare concise summaries of implications for clients or the organization, and contribute to team knowledge-sharing sessions.
  • Help prepare payroll tax reconciliations and filings, including the collection and validation of payroll-related tax data for federal and state filings.
  • Support cross-functional collaboration with accounting, finance, legal, and operations teams to gather information and resolve tax issues in an enterprise context.
  • Assist with scanning, indexing, and archiving of tax documents and binders, maintaining organized and auditable files for internal and external review.

Secondary Functions

  • Provide ad-hoc tax analysis and reporting support to senior staff for special projects, internal reporting, and client requests.
  • Contribute to continuous improvement initiatives by identifying inefficiencies in tax processes and recommending practical solutions.
  • Train and mentor newer interns on firm tax templates, software login procedures, and document organization best practices.
  • Assist with preparing standardized client deliverables such as engagement letters, tax organizers, and post-filing summaries.
  • Support data cleanup and validation efforts for tax system migrations or software upgrades.
  • Participate in firm learning sessions, tax trainings, and knowledge sharing; document takeaways and update internal reference guides.

Required Skills & Competencies

Hard Skills (Technical)

  • Practical knowledge of tax preparation and compliance workflows for individuals, partnerships, and corporations.
  • Hands-on experience or coursework with tax software platforms (examples: Lacerte, ProSeries, UltraTax, CCH Axcess, ONESOURCE).
  • Strong Excel skills: VLOOKUP/XLOOKUP, pivot tables, basic formulas, and data cleanup techniques.
  • Familiarity with accounting principles (GAAP) and financial statement structure to support tax provisioning and book-to-tax reconciling.
  • Ability to perform basic ASC 740 deferred tax calculations and prepare supporting reconciliations.
  • Basic understanding of multi-state taxation concepts: apportionment, domicile, and nexus.
  • Competence in tax research tools and resources (e.g., CCH, RIA Checkpoint, Bloomberg BNA) and the ability to synthesize findings into actionable summaries.
  • Experience preparing or reviewing sales & use tax, payroll tax, or excise tax filings is a plus.
  • Data management skills: organizing workpapers, using document management systems, and maintaining audit-ready files.
  • Familiarity with ERP/accounting systems (e.g., QuickBooks, NetSuite, SAP) and ability to extract trial balances and GL detail.
  • Basic SQL or data query exposure is helpful for pulling transactional tax data (optional but advantageous).
  • Understanding of tax credits and incentives, R&D credit basics, and tax accounting for stock compensation (preferred).

Soft Skills

  • Strong written and verbal communication—able to draft concise research summaries and communicate status to managers and clients.
  • High attention to detail and commitment to accuracy in mathematical calculations and documentation.
  • Time management and prioritization skills to manage multiple deadlines during peak filing seasons.
  • Analytical problem-solving: ability to identify discrepancies, ask relevant questions, and propose remediation steps.
  • Team player with a collaborative mindset; comfortable supporting more senior staff and working across teams.
  • Professionalism and discretion when handling confidential tax and financial information.
  • Quick learner with curiosity about tax code, regulations, and practical application in a business context.
  • Adaptability and resilience under deadline pressure (seasonal peak periods).
  • Client service orientation—responsive, proactive, and focused on delivering reliable support.
  • Initiative to seek feedback and improve processes; open to mentoring and structured supervision.

Education & Experience

Educational Background

Minimum Education:

  • Current enrollment in a Bachelor’s degree program (junior or senior preferred) in Accounting, Finance, Taxation, or related field.

Preferred Education:

  • Bachelor’s degree in Accounting or Finance completed; pursuing or planning to pursue an advanced accounting designation (CPA track) or Master of Accounting.
  • Coursework in Federal Taxation, Corporate Tax, Partnership Tax, and Accounting Systems.

Relevant Fields of Study:

  • Accounting
  • Finance
  • Taxation / Tax Law
  • Business Administration
  • Economics

Experience Requirements

Typical Experience Range: 0–2 years (academic coursework plus prior internships or relevant volunteer tax-prep experience)

Preferred:

  • 1+ prior internship or part-time experience in tax, accounting, or a finance function.
  • Experience with tax software, college tax clinics (VITA), or assisting in corporate accounting tasks.
  • Demonstrated academic performance in tax and accounting coursework; familiarity with basic tax regulations and compliance processes.
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