What Do Revenue Agents Do?Job Descriptions September 24, 2013
Revenue agents work in a similar channel as collectors and analysts, except that they are responsible for monitoring the accuracy tax returns coming from business professionals. They are accountants with a specialty focus. The intent of a revenue agent is to work on the side of government in order to help businesses.
There are government offices on the federal level, state level, and county to county. Now, what a revenue agent actually does really depends on what specific agency he/she is employed by, and what the needs are. If the applicant has a specialization, this is also factored in.
Education Required and How This Influences the Job
College graduates with a bachelor’s degree can find work, especially if they apply themselves in a related field like accounting, economics, business or auditing. Revenue agents that work directly with the government must have a bachelor’s degree as well as 30 hours of accounting coursework. The student cannot substitute work experience for education, but it can count as specialized experience, especially in the bookkeeping or tax profession.
All businesses and individuals are obligated to file their income taxes every year and show all government offices their statements. The revenue agent not only has to deal with businesses owners on a one-to-one basis, but also has to keep up to date with tax laws to make sure that returns are being filled out properly and processed correctly.
In addition, the revenue agent has to look for any sign of fraudulent filing, such as withholding income, or coming up with expenses that were not business related. They can keep tabs on repeat tax offenders using computer databases that are now able to research names, and point out any business or individual that is a past offender.
Where Will You Work?
If you find an entry-level position, than you will likely start by auditing business returns, usually in smaller businesses. Later, you can work your way up to tax returns for larger companies. This promotion will pay more because of special expertise required for these returns. Some agents may opt to specialize working within a certain type of industry, such as construction or sales.
If you work for the government, at the state level or within a region, then you will be auditing returns for companies that are exclusively within your own state or living area. You will work with the information provided to you by the federal government, and make sure that all local laws are being filed.
A revenue agent can also handle individual tax returns, in addition to business documentation. You have power to analyze other businesses, within your state or city, to make sure that they are following all required statutes, and can order an audit if there is any doubt.
This is a job that is flexible, rewarding and easy to progress in once you began following a career path. Why not go back to school for some finance and tax training so you can one day soon work as a revenue agent and make a fine living?