Sample interview questions: How do you approach tax research and analysis?
Sample answer:
1. Define the Scope and Objectives:
- Determine the specific tax issue or topic to be researched.
- Identify the individuals, companies, or entities involved.
- Define the desired outcomes of the research and analysis.
2. Gather Relevant Information:
- Consult tax codes, regulations, rulings, and case law.
- Review industry publications, accounting standards, and economic data.
- Network with tax professionals, attorneys, and industry experts.
- Conduct due diligence on companies and individuals involved.
3. Analyze the Data:
- Interpret tax laws and regulations to determine their applicability.
- Apply accounting principles to assess the tax implications of transactions.
- Evaluate economic factors to estimate potential tax liabilities.
- Consider tax avoidance and evasion strategies to assess risks and opportunities.
4. Develop Conclusions and Recommendations:
- Summarize the findings of the research and analysis.
- Identify potential areas of tax savings, tax liability, or compliance issues.
- Provide specific recommendations for tax planning, audit … Read full answer