What is a Tax Supervisor Job?
When it comes to jobs in the field of accounting, being a tax supervisor is an important role in ensuring the financial stability of a company. A tax supervisor is responsible for overseeing and managing tax accounting, tax compliance, and tax planning activities. This includes preparing and reviewing tax returns, conducting research on tax laws and regulations, and ensuring that the company is following all tax laws and regulations.
What Do Tax Supervisors Usually Do in This Position?
One of the primary duties of a tax supervisor is to ensure that the company is in compliance with all tax laws and regulations. This involves reviewing tax returns, conducting research on tax laws and regulations, and working with other department managers to ensure that the company is following all relevant tax laws.
Another key responsibility of a tax supervisor is to manage the tax planning activities of the company. This involves developing and implementing tax strategies that can help the company save money and reduce its tax liability. Tax supervisors may also be responsible for overseeing the work of other tax professionals, such as tax analysts and tax accountants.
Top 5 Skills for the Position
- Strong analytical and problem-solving skills
- Excellent communication and interpersonal skills
- In-depth knowledge of tax laws and regulations
- Ability to manage and motivate a team of tax professionals
- Strong attention to detail and accuracy
How to Become a Tax Supervisor
To become a tax supervisor, you typically need a bachelor's degree in accounting, finance, or a related field. Many tax supervisors also have a master's degree in taxation or a related field. Additionally, you will need several years of experience working in tax accounting or a related field.
To advance in your career as a tax supervisor, you may also consider pursuing professional certifications such as the Certified Public Accountant (CPA) or the Enrolled Agent (EA) designation.
Average Salary
According to data from the Bureau of Labor Statistics, the median annual wage for tax examiners, collectors, and revenue agents (which includes tax supervisors) was $54,890 as of May 2020. However, salaries can vary widely depending on factors such as experience, education, and location.
Roles and Types
Tax supervisors can work in a variety of industries, including finance, healthcare, manufacturing, and more. Some common job titles for tax supervisors include:
- Tax Manager
- Tax Analyst
- Tax Consultant
- Tax Director
- Tax Accountant
Locations with the Most Popular Jobs in USA
According to data from the Bureau of Labor Statistics, California, Texas, and New York have the highest employment levels for tax examiners, collectors, and revenue agents (which includes tax supervisors). Other states with high employment levels include Florida, Illinois, and Pennsylvania.
What are the Typical Tools?
Tax supervisors typically use a variety of tools and software programs to help them perform their job duties. Some common tools and software programs used by tax supervisors include:
- Tax preparation software (such as TurboTax or H&R Block)
- Spreadsheet software (such as Microsoft Excel)
- Accounting software (such as QuickBooks or Xero)
- Research databases (such as LexisNexis or RIA Checkpoint)
In Conclusion
A career as a tax supervisor can be a challenging and rewarding path for those interested in the field of accounting. With the right education, experience, and skills, you can pursue this career and make a positive impact on the financial stability of a company.