Tax Accounting Programs in New Mexico
Tax auditors are responsible for ensuring the accuracy of federal and state tax returns as well as other financial documents. In order to uncover errors or deliberate fraud, tax auditors examine bank statements, sales ledgers, invoices, inventory reports and more. After finding one or more problems, tax auditors notify the taxpayer and explain what must be done to correct the situation.
All accounting professionals in New Mexico are required to pass the Certified Public Accountant (CPA) exam after completing a bachelor degree program. Educational requirements include at least 30 semester hours of accounting courses, three of which must include business law. The initial application fee for New Mexico residents is $155. Applicants must also pay $190.35 for the audit and financial portions of the exam and $171.25 for the regulation and business portions.
As of May 2020, accounting professionals earned an average salary of $67,330 in New Mexico, while tax preparers here earned an average salary of $45,340. Between 2018 and 2028, the number of accountant and auditor jobs in the state is projected to increase by 6.7%, and the number of tax preparer jobs is projected to increase by 6%.
About 680 annual job openings for accountants and 60 annual job openings for tax preparers are expected during this ten-year period leading to 2028 due to a combination of new job growth, retirements, and natural job turnover.
May 2020 Bureau of Labor Statistics salary and job market trends for accountants and auditors and tax preparers. Figures represent state data, not school specific information. Conditions in your area may vary. Data accessed April 2021.