Taxation

Tax accounting is an accounting careers in which an individual helps individuals or organizations file taxes. Tax accountants analyze financial documents; calculate the total amount that an individual or an organization has earned during the year, as wall as the total amount that the individual or organization owes in taxes; identify business or personal expenses that an individual or an organization can claim as a deduction on a tax return; help an individual or an organization file an amendment to a tax return if an error is discovered after a return is filed; help an individual or an organization file an appeal to an IRS decision; and help an individual or an organization prepare the information that a government agency has requested for an audit. In addition, tax accountants identify the type of forms that an individual or an organization must file; prepare state and federal tax returns; provide tax advice when tax issues arise; verify that an individual or an organization’s accounting procedures comply with the regulations established by the IRS and/or other similar government agencies; verify tax returns to ensure their accuracy; and perform other similar tasks.

Individuals in tax accounting are typically known as tax accountants, but an individual in tax accounting may also be known as an enrolled agent, a corporate tax accountant, a public accountant, a taxation expert, a tax specialist, or any of a number of other similar titles depending on the specific responsibilities of the position.

In most cases, an individual will be able to obtain a position in the tax accounting field with a bachelor’s degree in accounting from an accredited accounting school, a Certified Public Accountant (CPA) license, and/or an Enrolled Agent (EA) certificate. Some employers, however, require an individual to obtain an Accredited Tax Advisor (ATA) certificate, an Accredited Tax Preparer (ATP) certificate, or another similar certificate in addition to a bachelor’s degree, a CPA license, and/or an EA certificate for some positions. A bachelor’s degree, a certificate, and/or a license may not be required for every position, and some positions only require an individual to pass the IRS Competency Exam.