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Besides the hard-dollar replacement costs (i. tax organizer, inheritance taxes, tax id number, irs web site, suv tax break, 2002 tax brackets, 2002 federal income tax tables, state tax forms, irs tax forms, tax cut software, alabama income tax, ohio tax, tax slayer, tax tables, tax write offs, tax refund estimator, irs refund status, tax questions, federal income tax calculator, irs form 990, family tax credit, tax shelters, internal revenue service tax forms Tax calculator. e. recruiting fees, signing bonuses, retraining time), estimated at more than $60,000 per person, the opportunity cost of not having a role filled can be staggering. Based on Andersen's Global Best Practices database, an average tax department returns more than $40 in cash tax savings for every $1 invested in federal planning. tax organizer, inheritance taxes, tax id number, irs web site, suv tax break, 2002 tax brackets, 2002 federal income tax tables, state tax forms, irs tax forms, tax cut software, alabama income tax, ohio tax, tax slayer, tax tables, tax write offs, tax refund estimator, irs refund status, tax questions, federal income tax calculator, irs form 990, family tax credit, tax shelters, internal revenue service tax forms Tax refund estimator. Rather than saving money, an open tax position can cost a company more than $11,000 per day in opportunity cash tax savings, assuming a professional at a fully loaded cost of $70,000 per year. Retaining the right people means recognizing important skills through promotion and identifying skills most in need of improvement. Asked to rank the skills most important to promotion, tax leaders cited tax planning, leadership on tax projects and communicating with/understanding business unit personnel. tax organizer, inheritance taxes, tax id number, irs web site, suv tax break, 2002 tax brackets, 2002 federal income tax tables, state tax forms, irs tax forms, tax cut software, alabama income tax, ohio tax, tax slayer, tax tables, tax write offs, tax refund estimator, irs refund status, tax questions, federal income tax calculator, irs form 990, family tax credit, tax shelters, internal revenue service tax forms Federal income tax calculator. These are also the traits cited as most in need of improvement. Addressing The People PuzzleBy Gary Paice and Meg LyonsPage 2 of 2Future Change Two-thirds of responding tax executives "mostly agreed" they felt confident about their personal ability to manage changes required by their department's future direction. When this future was defined as a movement to a digital world, approximately half of the responding companies "somewhat agreed" their current tax professionals possess the necessary skills. In reality, the median tax technology budget is currently between 5 and 10 percent of the total department budget. These percentages seem exceptionally low, considering the suggested future movement to a much more digital function. However, since a tax department's data-gathering abilities are usually reliant on the finance function, these percentages may be skewed by virtue of finance or IT absorbing most of the costs. Predictions Could we be poised for a major change in the way corporate tax departments address people-related issues? Most tax leaders and Andersen agree that the future promises a world of seamless access to data in which tax professionals work with business strategists to deliver value. However, unless a dramatic shift occurs on college campuses, Andersen foresees a moderate to severe shortage of tax professionals over the next five years. Therefore, it will become even more difficult for corporate tax departments to rely on traditional means to hire and retain personnel.

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