Whether the title reads Director of Taxation, Director of Tax, Director Global Ecommerce Taxation, State and Local Tax (SALT) Director or Director of International Tax, it is likely that this manager will report to the top management of the company and be required to have a college degree as well as years of experience. The titles vary depending on what the company wants that director to oversee.
What Exactly Does a Director of Taxation Do?
According to Salary.com, a tax director directs and oversees an organization’s tax policies and objectives; monitors reporting and planning to ensure compliance with applicable tax statutes.; ensures accuracy of tax returns and works to minimize the organization’s tax obligations. A tax director has the immense task of ensuring that the company they work for is complying with all the tax laws in every location where the company does business.
What Education is Needed to be a Director of Taxation?
The education required will vary depending on the company and the tax obligations they are likely to incur. Many companies require at least a bachelor’s degree in accounting and experience in supervision and accounting and may require certification as a certified public accountant (CPA), enrolled agent (EA), or require certified financial manager (CFM) designation. PayScale states that most people holding this position have more than five years’ experience in related jobs.”A tax director’s median salary is $140,954. Of course, as with all jobs, salaries will vary with the size of the company and the complexity of their tax burdens.
What Tasks Would a Director of Taxation be Expected to Perform?
A Director of Taxation would perform the following:
- Direct strategy to increase use of credits, incentives and other tax-related accounting items.
- Review and evaluate all accounting procedures for compliance and accuracy.
- Oversee quarterly and annual regulatory and tax preparation, submission and disclosures.
- Interview, train and oversee tax staff
The tasks listed below are samples from various postings for tax director positions:
- Responsible for audits of federal and state income tax and state and local filings.
- Coordination of accounting for income taxes for international subsidiaries with third party vendors.
- Ensuring that appropriate internal controls are in place over accounting for income taxes.
Because every company is different, the tasks listed may not be inclusive of all tasks that a director of taxation may be asked to complete.
Related Resource: Master’s of Accounting Degree Online
Where Can Jobs as a Director of Taxation be Found?
Visits to several job search sites revealed that many companies all across the country are actively searching to fill Director of Taxation positions. For the qualified candidate, the prospects for a decent salary, supervisory opportunities, a track for advancement and a pool of available positions should sound very attractive. For those still in school, the opportunities and high rewards are worth researching the job title Director of Taxation to determine if this is a career you would like to pursue.