Introduction to the career
A tax auditor is a professional who works with individuals and businesses to ensure that they are complying with all relevant tax laws and regulations. Tax auditors can work for the government or for private firms, and their job is to review financial records, analyze tax returns, and conduct interviews to determine if taxpayers are accurately reporting their income and paying the appropriate amount of taxes.
Career values, traits and skills
To be successful as a tax auditor, it’s important to have strong analytical and problem-solving skills, as well as excellent attention to detail. Tax auditors also need to be familiar with tax laws and regulations, as well as financial reporting standards. Strong communication skills are essential, as tax auditors often need to explain complex tax matters to clients or colleagues. Additionally, honesty and integrity are critical traits for anyone working as a tax auditor, as the job requires a high degree of trust and responsibility.
Career path
To become a tax auditor, individuals typically need a bachelor’s degree in accounting, finance, or a related field. Some employers may require a master’s degree or professional certification, such as a Certified Public Accountant (CPA) designation. Many tax auditors begin their careers in entry-level accounting or auditing roles before moving into more specialized tax positions. With experience and continued education, tax auditors can advance into management positions or become self-employed.
Salary range
The salary range for tax auditors can vary widely depending on the employer, location, and level of experience. According to the Bureau of Labor Statistics, the median annual salary for accountants and auditors, including tax auditors, was $73,560 in 2020. However, salaries can range from around $45,000 for entry-level positions to over $125,000 for experienced professionals in senior-level roles.
Tips for Success
To be successful as a tax auditor, it’s important to stay up-to-date with the latest tax laws and regulations, as well as financial reporting standards. Attention to detail and strong analytical skills are also critical. Additionally, building strong relationships with clients or colleagues can help to establish trust and credibility in the field. Continued education and professional development can also help tax auditors to advance their careers.
References
- Bureau of Labor Statistics. (2021). Accountants and Auditors. [online] Available at: https://www.bls.gov/ooh/business-and-financial/accountants-and-auditors.htm [Accessed 26 Nov. 2021].
- National Society of Accountants. (2021). What is a Tax Auditor? [online] Available at: https://www.nsacct.org/page/WhatIsTaxAuditor [Accessed 26 Nov. 2021].
- U.S. Department of Labor. (2021). Occupational Outlook Handbook: Accountants and Auditors. [online] Available at: https://www.bls.gov/ooh/business-and-financial/accountants-and-auditors.htm [Accessed 26 Nov. 2021].
