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Key Responsibilities and Required Skills for a Tax Professional

💰 $75,000 - $140,000

FinanceAccountingTaxationCompliance

🎯 Role Definition

As a pivotal member of our finance team, the Tax Professional is the cornerstone of our company's fiscal integrity and strategic financial planning. You will navigate the complex and ever-evolving landscape of tax regulation, ensuring meticulous compliance while identifying opportunities for tax optimization and efficiency. This role is not just about numbers; it's about strategic thinking, risk management, and directly contributing to the company's bottom line. This role requires a proactive and detail-oriented expert who can translate complex tax law into actionable business strategy and safeguard our financial health.

📈 Career Progression

Typical Career Path

Entry Point From:

  • Staff Accountant
  • Junior Tax Accountant
  • Tax Intern

Advancement To:

  • Senior Tax Professional / Senior Tax Analyst
  • Tax Manager
  • Tax Director / VP of Tax

Lateral Moves:

  • Financial Planning & Analysis (FP&A) Analyst
  • Corporate Controller
  • Internal Audit Manager

Core Responsibilities

Primary Functions

  • Prepare and file complex federal, state, and local income and franchise tax returns for various legal entities, including C-corporations, S-corporations, and partnerships.
  • Calculate and document the quarterly and annual worldwide income tax provision in accordance with ASC 740, including deferred tax assets/liabilities and uncertain tax positions (FIN 48).
  • Conduct in-depth tax research on complex issues using tax research platforms (e.g., CCH, BNA, RIA Checkpoint) and prepare detailed memoranda documenting findings and conclusions.
  • Serve as a key point of contact for and manage federal, state, and local tax audits, including responding to information document requests (IDRs) and corresponding with tax authorities.
  • Analyze and forecast the company's effective tax rate (ETR) and cash tax payments to support financial planning and analysis (FP&A) activities.
  • Ensure timely and accurate preparation and filing of various non-income tax returns, including sales and use tax, property tax, and other indirect taxes across multiple jurisdictions.
  • Assist in the evaluation of tax implications associated with significant business transactions, such as mergers, acquisitions, divestitures, and internal reorganizations.
  • Maintain and reconcile all tax-related general ledger accounts, preparing journal entries and ensuring accuracy and proper documentation for audit purposes.
  • Develop and implement tax planning strategies to minimize tax liabilities and optimize the company's tax position in full compliance with all applicable laws.
  • Monitor changes in federal, state, and international tax legislation and regulations to assess their impact on the company and recommend necessary strategic actions.
  • Prepare and maintain comprehensive transfer pricing documentation and studies to support intercompany transactions and ensure compliance with global standards.
  • Collaborate with legal, treasury, and accounting departments to ensure tax considerations are integrated into business decisions and legal entity structuring.
  • Drive process improvements and automation within the tax function by leveraging technology and tax software to enhance efficiency, controls, and accuracy.
  • Manage the company’s tax compliance calendar to ensure all deadlines for filings, payments, and reporting are met across all jurisdictions without exception.
  • Provide mentorship and technical guidance to junior tax staff, reviewing their work and contributing to their professional development and growth within the team.

Secondary Functions

  • Assist in special projects as assigned by tax leadership, including tax technology implementations, R&D tax credit studies, and state nexus studies.
  • Support ad-hoc tax data requests from across the business and perform exploratory data analysis to identify potential tax savings or risk areas.
  • Contribute to the tax department's technology and data automation strategy by identifying and advocating for new tools and streamlined workflows.
  • Collaborate with business unit leaders to translate their operational plans and new initiatives into clear tax requirements and financial impact analyses.
  • Participate in agile sprint planning and project management ceremonies for tax-related initiatives, ensuring projects stay on track and meet their objectives.
  • Develop and deliver training materials to non-tax personnel on relevant tax topics to increase organizational awareness and improve data gathering processes.
  • Liaise effectively with external tax advisors and auditors to manage engagements, provide necessary documentation, and ensure projects are completed on time and within budget.

Required Skills & Competencies

Hard Skills (Technical)

  • Tax Compliance & Reporting: Proficient in preparing and reviewing federal (Forms 1120, 1065) and multi-state corporate income, franchise, and indirect tax returns.
  • Tax Provision (ASC 740): Deep understanding and practical experience with calculating quarterly and annual income tax provisions, including deferred taxes, valuation allowances, and uncertain tax positions.
  • Tax Research & Analysis: Expertise in using tax research software (e.g., CCH Axcess, RIA Checkpoint, BNA) to analyze complex tax issues and draft technical memoranda.
  • Tax Software Proficiency: Hands-on experience with corporate tax compliance and provision software such as OneSource, CorpTax, or similar platforms.
  • ERP & Financial Systems: Strong competency in navigating ERP systems (e.g., SAP, Oracle, NetSuite) and advanced proficiency in Microsoft Excel for modeling and data analysis.
  • U.S. GAAP Knowledge: Solid understanding of U.S. Generally Accepted Accounting Principles and its direct interaction with tax accounting principles.

Soft Skills

  • Analytical & Problem-Solving: Superior analytical skills with the ability to dissect complex problems, identify key issues, and propose viable, well-reasoned solutions.
  • Attention to Detail: Meticulous and highly organized approach to work, ensuring absolute accuracy and precision in all calculations, documentation, and filings.
  • Communication & Interpersonal Skills: Excellent written and verbal communication skills, with the ability to articulate complex tax concepts clearly to both tax and non-tax audiences.
  • Project Management: Strong ability to manage multiple projects and competing deadlines effectively, demonstrating excellent time management and organizational capabilities.
  • Collaboration & Teamwork: A proactive and collaborative mindset, with a proven ability to work effectively within a team and cross-functionally with other departments to achieve common goals.

Education & Experience

Educational Background

Minimum Education:

  • Bachelor's Degree in a relevant field.

Preferred Education:

  • Master's Degree in Taxation (MST) or a Master of Business Administration (MBA) with a finance/accounting concentration.
  • Certified Public Accountant (CPA) license is highly preferred.

Relevant Fields of Study:

  • Accounting
  • Finance

Experience Requirements

Typical Experience Range:

  • 3-7 years of progressive experience in a corporate tax department or public accounting firm.

Preferred:

  • Experience in a "Big 4" public accounting firm or a large multinational corporate tax department is a significant plus.
  • Demonstrable experience with both tax compliance and tax provision (ASC 740) is strongly desired.
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