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The Bureau of Labor Statistics (BLS) reports that there will be approximately 1.5 million accountants and auditors employed in the U.S. by 2018. Of those, tax accountants will continue to play a key role in business, government and personal finance.

What are tax accountants?

Tax accountants can be found across accounting specialties, taking on their duties as public accountants, management accountants, government accountants or internal auditors. They may advise companies about the tax ramifications of business decisions and ensure all tax laws are being followed by the company. During the yearly tax-filing season, tax accountants may have an increased workload.

Tax accountant salaries

According to the BLS, accountants and auditors earned mean annual wages of $67,430 in 2009. On the government side, tax examiners, collectors and revenue agents working for the federal government earned $64,210.

The amount of years you have worked as a tax accountant should have a strong bearing on your salary. Salary.com reports average wages for varying levels of tax accountants as of May 2011:

1. Entry level tax accountant: $47,501
2. Intermediate tax accountant: $58,457
3. Expert tax accountant: $73,649
4. Lead tax accountant: $87,612

Wages for tax accountants vary based on employment experience, employer and location. Tax accountant wages as reported to GlassDoor.com in May 2011 range from $42,042 at a real estate company to $85,449 at a technology corporation.

Top tax accountant locations

Tax accountants are valued in small and large cities alike; wherever there are growing businesses, governmental organizations or individuals with yearly tax needs, there is employment potential. Take a look at the top picks for tax accountant careers, with mean annual wages for accountants and auditors from 2009 as reported by the BLS and 2010 cost-of-living data provided by Missouri Economic Research and Information Center:

1. Bethesda-Frederick, Maryland: While Maryland's cost-of-living index puts it at number 44 in ACCRA's cost-of-living rankings, this it one of the top-five highest-paying metropolitan areas in the U.S. for accountants. ($83,390)
2. Chicago, Illinois: Illinois is home to 31 Fortune 500 companies, many of whom make their headquarters in Chicago. Illinois ranks in the upper half of affordable states to live in at number 22. ($72,380)
3. Dallas, Texas: Texas's cost of living makes it the fifth most affordable state to live in, according to ACCRA. ($68,580)

Training at tax accountant schools

Tax accountant hiring managers in CPA firms typically look for a bachelor's degree in accounting or a related field, plus detailed knowledge of federal tax laws. The BLS notes that future job opportunities for accountants should be best for those with CPA certification.

Tax accountant job growth potential

The BLS notes a strong growth potential for accountants and auditors in the coming years. With a projected growth of 22 percent between 2008 and 2018, about 279,400 new jobs are expected to enter the field.

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