What does a Revenue Agent do?
|Citation||Retrieved in 2017 from BLS.org|
Tax collectors, examiners, and revenue agents work for local, state, and federal governments reviewing tax returns, conducting audits, identifying any owed taxes, and collecting overdue tax payments. They ensure that the state, local, and federal governments are able to collect tax money from citizens and businesses that may owe. They work primarily in an office but may do field audits at local businesses or a taxpayers home when necessary.
How to Become a Tax Collector, Examiner, and Revenue Agent
Degrees vary in this occupational career field. Tax examiners require a bachelor’s degree in accounting or a related field. Whereas, revenue agents require a bachelor’s degree in economics, accounting, business administration, or a related field. Some employers may accept education and relevant experience in auditing, accounting or tax compliance work as a substitute to work as a revenue agent or tax examiner, though it is becoming very uncommon nowadays. One wishing to gain employment with the IRS (Internal Revenue Service) must earn a bachelor’s degree and specialized experience. Aspirants who wish to work for the IRS need either 30 semester hours of accounting coursework along with specialized experience or must earn a bachelor’s degree.
Collectors must typically have a combination of college education in a related field and specialized experience. Work experience such as credit manager or loan officer are usually common. A candidate for employment as a collector with the IRS requires a bachelor’s degree in business, finance, accounting, and criminal justice experience may not be substituted for this position.
Job Description of a Tax Collector, Examiner, and Revenue Agent
The duties of a tax collectors, examiners, and revenue agents include reviewing filed tax returns to determine whether certain deductions and credits are allowed by law. They also conduct investigations and field audits of income tax returns to update tax liabilities or verify information. They contact taxpayers to request supporting documentation and address problems.
He or she evaluates financial information and keep records on each case they work on. They must notify taxpayers of any underpayment or overpayment and then collect or refund the payment. Because there are three areas of specialist in this job their duties vary according to their expertise. Here is a quick overview in the difference for a tax collector, examiner, and revenue agent. A tax collector collects overdue tax payment from business and consumers. A tax examiner review, process tax returns and may contact taxpayers to resolve any problems with their returns. A revenue agent specializes in accounting for the Internal Revenue Service (IRS) or state and local governments.