How to answer this Technical interview question about Tax Compliance for Mid-Level Tax Accountant?

How would you ensure compliance with changing tax laws and regulations?

Tax Accountant

Technical

Asked at

KPMG

Difficulty :

Medium

Explanation

This question evaluates your ability to stay updated on tax laws and ensure compliance for your clients or company. Recruiters assess your knowledge of tax regulations, adaptability, and organizational skills. Common pitfalls include not addressing how you stay updated or failing to explain how you implement changes. A strong answer includes using reliable resources, implementing updates, and ensuring proper communication. Preparation involves reviewing tax compliance processes and tools.

Answer Example

I would stay updated on changing tax laws by subscribing to reputable tax and regulatory publications, attending seminars, and using tools like Thomson Reuters Tax & Accounting software. I would then review how these changes impact clients and ensure updates are communicated and implemented accurately. For example, I recently updated a client’s tax filing process to comply with new state tax laws, which avoided potential penalties.

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