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Tax Accountants

Outlook

Tax accountants that work for medium to large firms will have better employment opportunities in the coming years than those who work for small firms. In 2020, the coronavirus pandemic affected many industries, including the accounting industry, with many businesses closed or reopened with reduced staff and new protocols for client meetings and conferences. Tax accountants will continue to be needed, however, and job growth is expected to pick up as the pandemic comes to an end and the economy strengthens. According to the Department of Labor, employment growth for accountants and auditors is expected to grow by 4 percent through 2029, about as fast as the average for all occupations. Demand for tax accounting services will be due to the ongoing changes to tax laws and regulations and continual globalization of business. As more companies merge their businesses and acquire other companies, tax accountants will be needed to review financial records, advise clients on tax issues and liabilities, and prepare tax returns that are accurate and meet deadlines. There is strong competition for tax accounting jobs. Those who are Certified Public Accountants with a master's degree in accounting or a related major, and who have practical work experience, will have the best job prospects.

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