MockQuestions

Tax Analyst Interview Questions

To help you prepare for your Tax Analyst interview, here are 25 interview questions and answer examples.

Tax Analyst was written by and published on January 28th, 2021. Learn more here.

Question 1 of 25

Why did you want to become a tax analyst?

How to Answer

This question is a way for the interviewer to find out a little bit about what makes you a good fit for the job. Be honest and direct - don't give a phony answer that the interviewer will see through.

Written by Brian Schuchart on January 28th, 2021

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25 Tax Analyst Interview Questions & Answers

  • Behavioral

    1. Why did you want to become a tax analyst?

      How to Answer

      This question is a way for the interviewer to find out a little bit about what makes you a good fit for the job. Be honest and direct - don't give a phony answer that the interviewer will see through.

      Written by Brian Schuchart on January 28th, 2021

      1st Answer Example

      "Since I was young, I have always liked math and have been good with numbers. I took an accounting class in high school and really enjoyed it - the concepts came naturally to me. I also aspire to be a key contributor to an organization, and I know that the analyst role is visible to leadership."

      Written by Brian Schuchart on January 28th, 2021

  • Behavioral

    2. How would you handle working in an increasingly remote environment?

      How to Answer

      This is a question to gauge if you are disciplined enough to work from home. Be sure to touch on how you would stay focused and communicate with team members. Even after things return to normal, remote work may continue to be more common across many industries, including accounting.

      Written by Brian Schuchart on January 28th, 2021

      1st Answer Example

      "I have experience working remotely. At my internship, we were able to work from home on Fridays during the summer. I enjoyed working from home and was able to stay on task and communicate effectively with my team members. There were some ground rules I implemented, such as maintaining regular hours, keeping my morning routine as if I was going to the office, and scheduling breaks to take care of non-work related tasks. I also had a standing meeting with my manager and team members every morning to discuss priorities for the day."

      Written by Brian Schuchart on January 28th, 2021

  • Behavioral

    3. What do you do when you don't know the answer to something?

      How to Answer

      There is no shame in being stumped - it happens to everyone at all levels of an organization. This question is an opportunity to highlight your ability to be independent and resourceful.

      Written by Brian Schuchart on January 28th, 2021

      1st Answer Example

      "I have no problem seeking solutions to questions I encounter. If I am unsure about the accounting or tax treatment for a certain transaction, I can reach out to our external auditors for advice on the appropriate treatment. All tax regulations are also available online, so I can complete research as needed. If it's something technical, such as using a new Excel formula, I am good at researching online and following examples."

      Written by Brian Schuchart on January 28th, 2021

  • Behavioral

    4. Are you willing to work extra hours if needed during busier times?

      How to Answer

      The life of a tax analyst is tied to the month-end close calendar and tax filing deadlines, which could result in a schedule that is 'lumpy' and not a typical 9-5. A tax analyst should expect there to be some additional time worked during busier times and should highlight that they are flexible.

      Written by Brian Schuchart on January 28th, 2021

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  • Behavioral

    5. What are some methods you use to self-review your work?

      How to Answer

      The interviewer is trying to evaluate your ability to check your own work and, as a result, save your manager precious time by catching mistakes before they reach his or her desk. Give specific examples of procedures you have implemented in previous roles to catch mistakes.

      Written by Brian Schuchart on January 28th, 2021

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  • Behavioral

    6. Are you a detail-oriented person?

      How to Answer

      The tax analyst position requires great attention to detail as the role is in charge of producing and maintaining meticulous financial records. It is expected that the analyst can catch mistakes before reporting is provided to leaders of the organization.

      Written by Brian Schuchart on January 28th, 2021

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  • Behavioral

    7. What have you done at your previous job to reduce costs or save time?

      How to Answer

      The interviewer wants to know if you have the ability to improve processes. Speak to a specific action you took that resulted in reduced costs, saved time, or better insights gained.

      Written by Brian Schuchart on January 28th, 2021

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  • Behavioral

    8. What qualities or skills do you believe a good tax analyst should possess?

      How to Answer

      This question is a good opportunity to show you have an understanding of what qualities make a good tax professional. Some key areas to hit are ethics (honesty/integrity), an ability to interact with colleagues and clients (communication skills, people-person), an ability to limit mistakes (focused/attention to detail), and an ability to get to the correct answer (skeptical/inquisitive/problem solver).

      Written by Brian Schuchart on January 28th, 2021

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  • Behavioral

    9. What would you do if you discovered there were accounting transactions that were suspicious or questionable?

      How to Answer

      This is an opportunity to highlight your integrity and honesty. The high-level answer should be obvious - that the concern must be addressed immediately.

      Written by Brian Schuchart on January 28th, 2021

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  • Behavioral

    10. The tax department interacts frequently with other departments. What are some of the ways that you can show professionalism when representing our department?

      How to Answer

      A tax analyst represents the tax department as a whole when they interact with other departments. Acting professional is not something that comes naturally to people new to the workforce. With this question, the interviewer is gauging your awareness of professionalism, respect, and cooperation.

      Written by Brian Schuchart on January 28th, 2021

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  • Behavioral

    11. How do you manage your manager? In other words, what steps do you take to make sure you get what you need from your boss and make both your lives easier?

      How to Answer

      Also known as 'managing up', 'managing your manager' is a soft skill that can be developed over time. It essentially means doing whatever is necessary to make your manager's job easier. Some clear-cut benefits of managing up include increased productivity and better working relationships between boss and employee.

      Written by Brian Schuchart on January 28th, 2021

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  • Behavioral

    12. What is your experience with interacting with senior executives at various organizations?

      How to Answer

      A tax analyst will, at times, be expected to interact with senior leadership of an organization. Highlight that you not only have experience presenting in front of leadership, but also that you are comfortable doing it. Be specific with what you have presented.

      Written by Brian Schuchart on January 28th, 2021

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  • Technical

    13. How do you keep up with the latest developments in tax rules and regulations?

      How to Answer

      This question is to see if you take the initiative to stay current on the latest tax accounting developments. If you are a CPA, talk about how you use mandatory continuing education requirements to stay up to date on the latest trends and regulations.

      Written by Brian Schuchart on January 28th, 2021

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  • Technical

    14. What accounting softwares are you familiar with?

      How to Answer

      Speak specifically to the accounting systems you have used and some of the functions you performed. Many job descriptions specifically state which accounting software the company uses. In any event, make sure to highlight that you are quick to learn new software systems.

      Written by Brian Schuchart on January 28th, 2021

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  • Technical

    15. What are some of the most common accepted methods of depreciation?

      How to Answer

      Depreciation expense is the recognition of the portion of a fixed asset that has been consumed in the current period. There are multiple accepted methods of depreciation, and the interviewer is testing whether you have knowledge of some of the most common methods.

      Written by Brian Schuchart on January 28th, 2021

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  • Technical

    16. What is Section 179 Expense?

      How to Answer

      Section 179 Expense is a common IRS-approved method to recognize full depreciation of fixed assets in the year of purchase. There is a limit on the amount of equipment that qualifies for Section 179 in a given year (up to $1,050,000 in 2021). It is advisable to mention how Section 179 expense differs from straight-line depreciation.

      Written by Brian Schuchart on January 28th, 2021

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  • Technical

    17. How would you interact with our organization's external auditors?

      How to Answer

      An organization's tax department will often lean on external auditors for guidance and advice. Additionally, during their field testing, an auditor may request documentation relating to tax transactions.

      Written by Brian Schuchart on January 28th, 2021

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  • Technical

    18. When do corporations typically pay federal taxes?

      How to Answer

      Companies that file Form 1120 are required to estimate their taxes and pay on the 15th day of the 4th, 6th, 9th and and 12th months of the tax year. There are some circumstances where these filing deadlines are adjusted, such as in 2020 with the coronavirus pandemic.

      Written by Brian Schuchart on January 28th, 2021

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  • Technical

    19. What are permanent and temporary tax differences?

      How to Answer

      Differences between financial (book) accounting and tax accounting are common. Permanent differences arise when there is a difference between book and tax that never goes away. Examples are fines or overdraft fees. Most tax codes don't allow for deduction for these items, but they can be recognized as an expense for book purposes. Temporary differences are differences between book and tax that eventually reverse or eliminate. Examples include depreciation, as most financial depreciation is straight line and tax codes allow for accelerated depreciation. This question gauges whether a candidate understands one of the fundamental concepts in tax accounting.

      Written by Brian Schuchart on January 28th, 2021

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  • Technical

    20. Have you obtained your CPA license?

      How to Answer

      Many, but not all, professionals in tax accounting have a CPA license. These days, many students are able to sit for the CPA exam before they graduate. Specifically, the Regulations section of the exam pertains to the tax profession.

      Written by Brian Schuchart on January 28th, 2021

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  • Technical

    21. How would you go about calculating estimated taxes for the current year?

      How to Answer

      Like individuals, companies are required to pay taxes throughout the year. Most individuals, however, have taxes withheld from their paychecks and, if necessary, pay estimated taxes. Companies, on the other hand, need to pay estimated taxes each quarter as that is the only mechanism to pay taxes regularly. At the highest level, estimated taxes for a business are based on forecasted taxable income.

      Written by Brian Schuchart on January 28th, 2021

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  • Technical

    22. How are C-Corporations taxed differently than S-Corporations?

      How to Answer

      This question tests the knowledge of the differences between the two most common business structures. The two structures have many differences, but one of the biggest is taxation.

      Written by Brian Schuchart on January 28th, 2021

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  • Technical

    23. Are you proficient in Excel?

      How to Answer

      Excel proficiency is a must for not only a tax analyst, but any role in accounting. At a minimum, a tax analyst should be able to sort through large amounts of data and analyze that data using pivot tables.

      Written by Brian Schuchart on January 28th, 2021

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  • Technical

    24. What is a deferred tax liability?

      How to Answer

      A deferred tax liability is a tax that has been incurred, but is not yet paid. This is a common occurrence in tax accounting, and a liability must be reflected on a company's balance sheet to represent the future obligation.

      Written by Brian Schuchart on January 28th, 2021

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  • Technical

    25. What are examples of different types of taxes a company must pay?

      How to Answer

      This is a broad question to test the candidate's general knowledge of tax accounting. Be able to rattle some of these off, as a tax analyst will likely be responsible for calculating, tracking and/or remitting these taxes.

      Written by Brian Schuchart on January 28th, 2021

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