Tax Audit Coordinator in Vermont Career Overview

As a Tax Audit Coordinator, you play a fundamental role in ensuring the accuracy and integrity of financial reporting for organizations. Your responsibilities encompass a variety of tasks that contribute significantly to the compliance and risk management functions of a business.

Key aspects of the role include:

  • Audit Preparation: You oversee the organization and preparation of documents required for tax audits, ensuring that all necessary records are readily available and compliant with regulations.

  • Regulatory Compliance: Your expertise is vital in navigating the complexities of tax laws and regulations, helping to avoid potential penalties and disputes.

  • Collaboration: Working closely with accountants, financial analysts, and external auditors, you facilitate effective communication and provide insight to ensure that the audit process runs smoothly.

  • Reporting: You analyze and summarize audit findings, generating detailed reports that are essential for internal use and for submission to regulatory bodies.

  • Problem-Solving: In the course of audits, discrepancies or issues may arise; your role involves identifying these challenges and collaborating with relevant parties to resolve them.

The work you undertake has far-reaching implications. By maintaining rigorous auditing processes, you help to uphold the reputation of your organization and reinforce stakeholder trust. The transparency and accuracy that you foster play a vital part in the financial ecosystem, ensuring that stakeholders can depend on reliable information for decision-making.

Tax Audit Coordinator Salary in Vermont

Annual Median: $56,890
Hourly Median: $27.35

Data sourced from Career One Stop, provided by the BLS Occupational Employment and Wage Statistics wage estimates.

Required Education To Become a Tax Audit Coordinator in Vermont

To become a Tax Audit Coordinator in Vermont, you will need to complete specific educational qualifications and training programs. Consider the following degree programs that will equip you with the necessary knowledge and skills for this career:

  • Accounting: A bachelor's degree in Accounting provides foundational knowledge in financial reporting, tax regulations, and auditing processes. This program typically covers topics such as financial accounting, managerial accounting, and tax preparation.

  • Accounting and Finance: A degree in Accounting and Finance combines aspects of both fields, offering insights into financial management, investment analysis, and taxation. This program prepares you for roles that require a comprehensive understanding of both accounting principles and financial strategies.

  • Auditing: Pursuing a degree specifically in Auditing will provide you with specialized training in the field. This program typically includes coursework focused on audit methodologies, internal controls, and compliance, preparing you for the specific tasks involved in tax auditing.

  • Tax Law and Taxation: A program in Tax Law and Taxation will give you extensive knowledge of tax regulations and legal frameworks governing taxation. This specialized education is beneficial for understanding the intricacies of tax laws and how they affect audit procedures.

  • Taxation: A degree specifically focused on Taxation will provide in-depth expertise on various aspects of tax policy, tax compliance, and tax-related strategic planning. This education is critical for effectively conducting tax audits and providing guidance on tax matters.

Completing one or more of these degree programs will not only meet the educational requirements but also prepare you for the complexities of the role of a Tax Audit Coordinator. Consider supplementing your education with internships or practical experiences in accounting or auditing to gain additional insights and enhance your qualifications.

Best Schools to become a Tax Audit Coordinator in Vermont 2024

#1Salt Lake County

Western Governors University

Salt Lake City, UT

In-State Tuition:$7,404
Out-of-State Tuition:$7,404
Admission Rate:N/A
Graduation Rate:49%
Total Enrollment:156,935
#2Merrimack County

Southern New Hampshire University

Manchester, NH

In-State Tuition:$15,000
Out-of-State Tuition:$15,000
Admission Rate:96%
Graduation Rate:41%
Total Enrollment:164,091
#3New York County

CUNY Bernard M Baruch College

New York, NY

In-State Tuition:$6,930
Out-of-State Tuition:$14,880
Admission Rate:50%
Graduation Rate:74%
Total Enrollment:19,854
#4Maricopa County

University of Phoenix-Arizona

Phoenix, AZ

In-State Tuition:$9,552
Out-of-State Tuition:$9,552
Admission Rate:N/A
Graduation Rate:18%
Total Enrollment:88,891
#5Utah County

Utah Valley University

Orem, UT

In-State Tuition:$5,614
Out-of-State Tuition:$17,174
Admission Rate:N/A
Graduation Rate:39%
Total Enrollment:43,099
#6Lynchburg City

Liberty University

Lynchburg, VA

In-State Tuition:$15,467
Out-of-State Tuition:$15,467
Admission Rate:99%
Graduation Rate:66%
Total Enrollment:96,709
Tax Audit Coordinator Job Description:
  • Determine tax liability or collect taxes from individuals or business firms according to prescribed laws and regulations.

Tax Audit Coordinator Required Skills and Competencies in Vermont

  • Analytical Skills: You must be able to interpret complex financial data and tax regulations. This involves assessing discrepancies, identifying trends, and evaluating compliance with established tax laws.

  • Attention to Detail: Accuracy is vital in this role. You should pay close attention to documents and data entries to ensure all information is correct and consistently reported.

  • Communication Skills: You will need to explain findings and recommendations clearly, both verbally and in writing, to stakeholders, clients, or team members who may not have a strong tax background.

  • Organizational Skills: Managing multiple audits, deadlines, and referrals requires strong organizational capabilities. You should be adept at prioritizing tasks and maintaining accurate records.

  • Problem-Solving Skills: You must be able to identify problems within tax filings or audit reports and devise appropriate solutions to address them effectively.

  • Technical Proficiency: Familiarity with accounting software, tax software, and Microsoft Office Suite is essential for preparing reports and managing audit data efficiently.

  • Interpersonal Skills: Building relationships with clients and colleagues is important. You should have the ability to collaborate effectively and maintain professionalism even in challenging situations.

  • Knowledge of Tax Regulations: Having a strong understanding of state and federal tax laws and regulations will help you conduct thorough audits and provide sound recommendations.

  • Time Management Skills: You will often face tight deadlines, so you should be able to manage your time efficiently and be flexible to adapt to sudden changes in priorities.

  • Ethical Judgment: Maintaining integrity and professionalism is critical. You need to ensure that all practices adhere to legal standards and ethical guidelines.

Job Duties for Tax Audit Coordinators

  • Confer with taxpayers or their representatives to discuss the issues, laws, and regulations involved in returns, and to resolve problems with returns.

  • Notify taxpayers of any overpayment or underpayment, and either issue a refund or request further payment.

  • Send notices to taxpayers when accounts are delinquent.

Technologies and Skills Used by Tax Audit Coordinators

Accounting software

  • Fund accounting software
  • Intuit QuickBooks

Electronic mail software

  • Email software
  • Microsoft Outlook

Presentation software

  • Microsoft PowerPoint

Basic Skills

  • Listening to others, not interrupting, and asking good questions
  • Reading work related information

Problem Solving

  • Noticing a problem and figuring out the best way to solve it

Job Market and Opportunities for Tax Audit Coordinator in Vermont

The job market for Tax Audit Coordinators in Vermont reflects the growing importance of compliance and regulatory oversight within the finance and accounting sectors.

  • Demand: Organizations are increasingly recognizing the value of thorough tax audits to minimize risks and ensure adherence to regulatory frameworks. This has led to a steady demand for Tax Audit Coordinators who can oversee the audit processes, manage relationships with stakeholders, and ensure that audits are conducted efficiently.

  • Growth Potential: The demand for professionals in this field is anticipated to grow as businesses seek to navigate complex tax regulations and avoid penalties. With the constant updates in tax laws and ongoing changes in business practices, Tax Audit Coordinators will likely find themselves in roles that not only involve traditional audit functions but also advisory capacities, helping organizations to implement best practices in tax preparation and compliance.

  • Geographical Hotspots: Within Vermont, key regions such as Burlington, South Burlington, and Montpelier present significant opportunities for Tax Audit Coordinators. These areas host a mix of large corporations, small businesses, and government entities that require tax audit services. Furthermore, the proximity to educational institutions in these regions fosters a professional environment conducive to skill development and networking.

  • Industry Trends: The rise of technology in finance is influencing the role of Tax Audit Coordinators. With an increase in automation and data analytics, professionals who can adapt and leverage these technologies will find enhanced opportunities. Those who are proficient in digital tools for conducting audits and analyzing tax data will be particularly sought after in the evolving job market.

  • Networking and Professional Development: Engaging with local accounting societies and attending industry conferences can provide valuable networking opportunities. Organizations such as the Vermont Society of CPAs offer resources, workshops, and events that can aid in professional growth and visibility within the tax auditing community.

Staying updated on trends and building a professional network will be key strategies for success in this continually evolving career path in Vermont.

Top Related Careers to Tax Audit Coordinator 2024

Revenue Compliance Officer
Tax Assessment Specialist
Tax Compliance Specialist
Revenue Collections Manager

Additional Resources To Help You Become a Tax Audit Coordinator in Vermont

  • Vermont Department of Taxes

    • Website: https://tax.vermont.gov
    • Description: Access information on state tax laws, forms, and regulations relevant to tax auditing in Vermont.

  • American Institute of Certified Public Accountants (AICPA)

    • Website: https://www.aicpa.org
    • Description: Provides resources for CPA professionals, including guidance on audit processes and ethical standards.

  • National Association of State Boards of Accountancy (NASBA)

    • Website: https://www.nasba.org
    • Description: Offers resources related to licensure requirements and professional practice standards for accountants.

  • American Society of Tax Problem Solvers (ASTPS)

    • Website: https://www.astps.org
    • Description: Offers specialized training and resources focused on tax problems, audits, and dispute resolution.

  • National Association of Tax Professionals (NATP)

    • Website: https://www.natptax.com
    • Description: Provides education, resources, and advocacy for tax professionals, with a focus on compliance and best practices.

  • IRS - Internal Revenue Service

    • Website: https://www.irs.gov
    • Description: The official US government website for tax information, including updates on federal tax laws and audit procedures.

  • Tax Policy Center

    • Website: https://www.taxpolicycenter.org
    • Description: Offers analysis and insights into tax policy, helpful for understanding the broader implications of tax auditing.

  • Vermont Society of CPA’s

    • Website: https://www.vscpa.org
    • Description: A professional organization providing resources, networking, and continuing education for CPAs in Vermont.

  • Institute of Internal Auditors (IIA)

    • Website: https://www.theiia.org
    • Description: Provides training and resources focused on internal auditing standards and practices relevant to tax audit coordinators.

  • Regional IRS Tax Forums

Utilizing these resources will aid in enhancing your knowledge and skills as a Tax Audit Coordinator in Vermont.

Frequently Asked Questions (FAQs) About Tax Audit Coordinator in Vermont

  • What are the main responsibilities of a Tax Audit Coordinator?
    As a Tax Audit Coordinator, your primary responsibilities include managing tax audits, preparing necessary documentation, coordinating between various stakeholders, ensuring compliance with tax regulations, and providing support during audits conducted by tax authorities.

  • What education is required to become a Tax Audit Coordinator?
    You typically need a bachelor’s degree in accounting, finance, or a related field. Some positions may require or prefer candidates with a master's degree or certifications like CPA (Certified Public Accountant) or EA (Enrolled Agent).

  • Is prior experience necessary for this role?
    While some entry-level positions may be available, most employers prefer candidates with several years of experience in accounting, tax preparation, or auditing. Experience in tax compliance and understanding state and federal tax laws will be advantageous.

  • What skills are essential for a Tax Audit Coordinator?
    Key skills include strong analytical abilities, attention to detail, excellent communication skills, organization, and proficiency with tax software and databases. You should also be able to work well under pressure and manage deadlines.

  • What is the typical salary range for a Tax Audit Coordinator in Vermont?
    Salary ranges can vary based on experience, education, and location within Vermont. On average, Tax Audit Coordinators can expect to earn between $55,000 and $85,000 annually, with potential bonuses and benefits.

  • What advancement opportunities exist for a Tax Audit Coordinator?
    Advancement opportunities include moving into higher-level audit positions, such as Audit Manager or Director of Tax. You may also transition into financial management roles or specialized tax consulting.

  • What industries employ Tax Audit Coordinators?
    Tax Audit Coordinators are employed across various industries, including public accounting firms, corporations, governmental agencies, and nonprofit organizations.

  • How can I stay updated on tax law changes?
    Staying informed can be achieved through continuous education, attending tax seminars and workshops, subscribing to professional tax journals, and joining professional associations, such as the AICPA or state accounting societies.

  • Do I need any specific software knowledge for this role?
    Yes, familiarity with accounting software (like QuickBooks or Sage) and tax software (such as Intuit ProConnect or Thomson Reuters UltraTax) is often required. Knowledge of spreadsheet tools like Microsoft Excel is also important.

  • What work environment can I expect as a Tax Audit Coordinator?
    You can expect a professional office environment, often in a team setting. The role may require occasional travel, particularly when conducting audits at client locations or other offices. Remote work options may also be available.