We investigated the effects of annealing temperatures (T-A) on a Pd (5 nm)/CoFeB (10 nm)/Pd (3 nm)/Ta (10 nm) multilayer structure. The as-deposited sample showed an amorphous state with in-plane uniaxial magnetic anisotropy (UMA), resulting in low coercivity and moderate Gilbert damping constant (alpha) values. Increasing T-A led to crystallization, forming bcc-CoFe (110) crystals, which increased in-plane coercivity and introduced isotropic magnetic anisotropy, slightly reducing the alpha. The two-fold UMA persists up to 600 degrees C, and the thermal stability of the in-plane magnetic anisotropy remains intact even T-A = 700 degrees C. The T-A significantly influenced the magnetic properties such as in-plane saturation magnetization (M-s//), in-plane and out-of-plane coercivities (H-c// and H-c perpendicular to), and in-plane effective magnetic anisotropy energy density (K-eff). Above 600 degrees C, K-eff decreased, indicating a transition towards uniaxial perpendicular magnetic anisotropy. Interfacial oxidation and diffusion from the Ta capping layer to the Pd/CoFeB/Pd interfaces were observed, influencing chemical bonding states. Annealing at 700 degrees C, reduced oxygen within TaOx through a redox reaction involving Ta crystallization, forming TaB, PdO, and BOx states. Ferromagnetic resonance spectra analysis indicated variations in resonance field (H-r) due to local chemical environments. The alpha reduction, reaching a minimum at 300 degrees C annealing, was attributed to reduced structural disorder from inhomogeneities. Tailoring magnetic anisotropy and spin dynamic properties in Pd/CoFeB/Pd/Ta structures through T-A-controlled oxygen diffusion/oxidation highlights their potential for SOT, DMI, and magnetic skyrmion-based spintronic devices.