What does a Tax Analyst do?
Tax analysts are responsible for preparing, reviewing, and filing tax returns and tax forms. They are hired by individuals and businesses to design forms and make them aware of ways to reduce their tax liability and payments. They prepare returns and review documents, check for accuracy and completion, and are responsible for filing a completed return before federal or state tax deadlines. If they are working with clients that require quarterly tax payments, they prepare and file them with the corresponding proper paperwork every three months.
Tax analysts are experts in assessing what a client can save on tax payments, including tax breaks, expenses, or tax deductions. They stay up-to-date on current tax laws and are fluent in current tax laws and code changes. They calculate taxes owed and savings gained through deductions and expenses that may affect a final tax estimate. They use their math skills to accurately record and transcribe detailed client financial information onto tax forms. Tax analysts need a bachelor's degree in accounting, finance, or related fields of study.
- Assist with responding to tax inquiries from various jurisdictions.
- Analysis and review of the Federal estimated tax payment.
- Prepare, review and submit indirect taxes returns and related filings.
- Support with M & A, tax diligence, strategy, and integration efforts.
- Calculate and report relocation expenses in other currencies to client's payroll departments.
- Incorporate tax accounting for mergers and acquisitions into financial reporting.
- Performance of nexus reviews and assist with submission of state tax registrations.
- Recommend process improvements to help improve efficiencies for area of responsibility.
- Perform tax research and assist in analyze technical tax issues.
- Provide internal and external audit and compliance support, including data analysis.
- Executive presence and ability to act as primary contact on assigned engagements.
- Manage vendor and customer new set ups and related tax forms.
- Prepare tax management book for distribution to finance and tax leaders.
- Assist manager in new client implementation, document client's gross-up requirements, processes and reporting schedule, and assist in testing of tax gross-up data exchange files.
- Interact with accounting, finance and line of business personnel on a continual basis for information relating to the above.
- Advanced knowledge of appropriate application of tax standards to ensure effective and efficient delivery of tax services.
- Learn and understand technical and process pain points in order to recommend solutions.
- Create and update user guide, process flow charts, development plans, and operating procedures.
- Liaise with a diverse group of internal and external stakeholders to ensure upstream and downstream consistency.
- Responsible for continuous improvement in the efficiency of data gathering.
- Bachelor's or Graduate's Degree in accounting, business, finance or computer science, or equivalent experience.
- Experience with C, SOX, and JAVA software and systems.
- Demonstrated leadership and time management skills.
- Comfortable debugging and problem solving.
- Experience with general ledger and object oriented programming.
- Solid attention to detail with an eye for critical thinking.
- Fluent in spreadsheets and GAAP protocols.
Tax Analyst Salaries
Average Base Pay
Tax Analyst Career Path
Learn how to become a Tax Analyst, what skills and education you need to succeed, and what level of pay to expect at each step on your career path.
Years of Experience Distribution
Tax Analyst Insights
EY“To start of your career with one of the big 4s is good for your cv.”
J.P. Morgan“One of best organisation to work with and have settled career path in way of growth”
Cain, Watters & Associates“Flexibility and great people to work with.”
EY“Colleagues are young and good to work with.”
Unlocking Language“I worked here as a contractor and was amazed at the support and training every received.”
Goldman Sachs“Some of the most intelligent people I have ever worked with and thoroughly enjoy working with.”
Cain, Watters & Associates“We are constantly changing to make our processes better and I love the people I work with.”
DuPont“good compensation and bonus compared to others”
Frequently asked questions about the role and responsibilities of a Tax Analyst
- Tax Consultant
- Tax Professional
- Tax Manager
- Tax Accountant