Revenue Agents Job DescriptionJob Descriptions October 27, 2013
Revenue agents are professionals in charge of doing accounting work for the Internet Revenue Service or similar organizations. They are the ones who will prepare tax returns for large companies and handle audit returns.
The industry is varied from construction, to retail, to finance, and to real estate. The business can be small or a multinational corporation. What matters is that the revenue agent is kept informed about all relevant news and trends developing in the business world, particularly about changing tax codes.
Job Duties for Revenue Agents
You, as the aspiring student, should prepare yourself by learning computer technology, since much of the business will be related to billing, files, court decisions and legal bulletins. You will analyze data and identify important trends while also finding tax offenders.
You have to be aware of state income tax laws (as defined by different states) and be able to perform field audits. Other tasks on your watch might include examining individual financial records, or applying laws that relate to local taxes and community fees.
Your obligation is to analyze data and use critical thinking skills, to determine if the accounting methods you observe are correctly implemented. In addition, you will investigate documents, make sure all practices conform to industry standards (not just state law) and confer, with taxpayers or companies, to explain these pertinent issues. This position is also in charge of federal tax delinquencies. Lastly, you will find yourself hearing appeals from other agents, in regards to contested cases.
Where You Will Be Utilized
This position involves working with companies, to help bring their accounts to a current and compliant state. You are going to be a decision maker, and must acquire skills in working with people. You will be talking to customers, CEOs, and other high-ranking officials. You will also be on the cutting edge of computers, data management software and various forms of IT.
All in all, your main service is to help people through the taxpaying process, examining small businesses, large businesses and individuals to determine federal tax liability. There is an entire channel called the “Small Business and Self-Employed Division,” as well as another for “Tax-Exempt” and “Government Entities.”
This is certainly a challenging career and will give you what you want most: independence, self-respect, and the chance to be working with people, doing your best to communicate with others tactfully. Students will spend much of their time writing reports, learning about fraud cases, researching techniques, and eventually working with experienced agents for hands-on training. Continuing education is important because there are always changes in law to report, not to mention new cases of fraud that come up frequently.
If this all appeals to you and you crave new challenges, a high salary, and a stable job in times of dangerous recession, now is the time to make a commitment to your education!