Preparation of Income Tax Returns Essay

Submitted By Abhisek1
Words: 828
Pages: 4

Tell us about a time when you tried to reach a goal or complete a task that was challenging, difficult, or frustrating. (750 words)
I wanted to be scared again... I wanted to feel unsure again. That's the only way I learn, the only way I feel challenged. -- Connie Chung
They say a man is never far from his challenges only if he has the will to accept it. It is always difficult to pinpoint on any particular occasion where you have felt the most vulnerable and intimated. If we take into account our professional lives then it is all the more difficult to remember the one incident that had shaken you to the core as we seldom get a chance to prioritize our feelings related to the complexity or massiveness of our work. But on the other hand if we try to analyze our attitude towards our occupation details, we will encounter several such instances where we had to cross insurmountable hurdles to reach our goals, had to give more than 100% to convince a client for projects so on so forth. Although there have been many such instances where I stumbled, learnt, again stumbled, stood up, fought back and won accolades for the work done but there is one such significant experience that I treasure the most and want to share with world.
Being a member of US Direct tax department, I prepare income tax returns based on the information provided by the client. The confidentiality of the information provided by the clients are secured by highly advanced technological tools as personal and financial information of clients are transferred overseas through a global operating system. Due to the sheer size of a handful of VIP returns, sometimes there are two/three preparers for a single return. Being a novice in the practice with just 18 months of solid experience, I am the primary preparer of income tax returns coming from a foreign office situated in the United States.
This incident happened in the month of February 2009 when I happened to work on one such massive return belonging to the CEO of a renowned MNC. Normally before coming to this part of the world these returns are audited and scrutinized by reviewers and executive partners because of sheer importance of the client. When this particular return came for preparation, that particular client had already missed two specific deadlines for filing his returns and attracted a huge penalty resulting which he wanted to get his return prepared by some other financial organization. Initially four of my teammates were involved in the preparation of his return as it would save time and money but as the third deadline drew closer all of them had to get back to their respective client works. Although the preparation of the return was gigantic and cumbersome because of the intricate personal, financial details that needed a perfect scrutiny, my supervisor had bestowed upon me the preparation of the complete return with a stringent deadline. I was also informed of the client’s anger and unwillingness to provide any further details of his importance. Not even being remotely