Question

Why do you want to work as a tax documentation analyst and how does that align with your goals within the financial service industry?

Please be very specific with both questions.

Answer 1

1a) Tax documentation analyst is a backborn of the company.he is assist with developing and maintaning effective and efficient compliance reporting process analyze tax reporting information provided by other documentation.in other words tax documentation analyst all statutory works and accounting.he is analyze the all tax areas of the company and give advice tax deduction advices to management ,it also helpful to avoid large volume tax payables.and at the same time they have prepare and paid the taxes at accurate time ,so that helps avoid future legal issues.

He is Responsible for quarterly and annual Federal and selected international tax compliance.This includes responsibilities for all documentation and support and researching any relevant issues. Responsible for responding to related tax correspondence. Assist with the preparation of the quarterly and annual tax provision and related tax accounting.

Basics Requirements for tax documentation analyst

• Proven work experience as a Tax Accountant, Tax Analyst or Tax Preparer
• Knowledge of accounting and bookkeeping procedures
• Familiarity with accounting software packages
• Computer literacy (MS Excel in particular)
• Excellent analytical and time management skills
• Strong numeracy skills
• Keen attention to detail
• BSc degree in Accounting, Finance or relevant subject; industry certification (e.g. CMA or CPA) is preferred

tax accountants determine tax strategies that defer, minimize, or eliminate tax payments, and arrange audits with taxation authorities. These accountants prepare tax documents for a clientele that can include public and private companies, nonprofit organizations, government agencies, and private individuals. As a result of this broad customer base, tax accountants must demonstrate excellent communication skills, as well as the ability to actively listen to their clients as they express their unique concerns.

Along with preparing tax documents, tax accountants interpret tax laws and explain the implications of any recent changes in the law. After preparing tax documents, accountants file returns on behalf of their clients, and then prepare presentations and reports to reflect their work. Professionals in this occupation should understand a broad base of business concepts and boast a financial or accounting background. As they earn their degree, tax accounting students can often pursue a concentration in tax law through their bachelor's degree in accounting program.

In addition to holding a bachelor's or master's degree, many candidates in the field boast certifications, including certified financial planner, certified public accountant, and enrolled agent. These certifications allow professionals to demonstrate a certain level of expertise in a particular area of the field. In general, tax accountants work standard full-time hours in an office environment, however, during tax season these accountants are much busier; they may work extended hours including weekends and nights.

Accountants review financial statements to ensure accuracy, and help clients meet the necessary regulations and laws for taxes. They calculate the taxes owed and prepare tax returns, while also making sure clients' taxes are paid on time. Accountants also work with their clients to come up with ways they can reduce their spending and enhance their income to improve profitability. Additionally, they help their clients develop budget plans to stay on track during the year in order to simplify things during tax time.

Tax accountants can also specialize within their field. For instance, forensic accountants investigate financial crimes such as embezzlement, bankruptcies, and fraud. Tax accountants with a speciality in forensic accounting use their expertise to investigate individuals suspected of tax fraud; they rely on their extensive knowledge of tax laws to conduct their investigations, and work side-by-side with law enforcement professionals.

Tax accountants with a management focus review the finances of organizations and prepare tax documents for business managers. These accountants work alongside financial managers to focus on asset management. They also choose the appropriate financial investments for their clients, and explain the implications to their tax returns.

Government is another focus of tax accountants, as they work with tax records of local, state, and federal government agencies. These accountants emphasize tax laws and regulations, and ensure their clients align with all of the relevant tax laws. Comparable occupations to tax accountants include financial managers, budget analysts, financial analysts, cost estimators, and personal financial advisors.

Understanding software is an important part of a tax accounting career. Accountants use a variety of software programs depending on their clients' specific needs. Accountants should be able to comfortably use Microsoft Excel to document their data and figures for their clients. Additional software requirements include computing programs and tax preparation programs. Employers often outline software requirements during the application process, and provide accountants the necessary training on many of the systems they must use.

The goals of the tax documentation analyst are

• Prepare quarterly and annual Federal related tax compliance
• Prepare select Federal compliance relating to international subsidiaries, including but not limited to foreign tax credit calculations
• Preparation calculations of research and development credit, including documentation requirements in accordance with the Internal Revenue Code
• Prepare Uniform Capitalization calculation in accordance with §263A of the Internal Revenue Code
• Manage tax software and implement new features and updates, assist with the quarterly and annual provision process
• Respond to related tax correspondence and research issues as they arise
• Assist with IRS and state audits as they arise, prepare quarterly and annual Fin 48 compliance
• Prepare quarterly and annual FAS 123R compliance.

Thanking You..!