Salary Information for Revenue AgentsCareer News November 15, 2013
Government jobs are among the most secure jobs in an economy that has lost a great deal of its momentum in the private sector. Working for the government at the city, state, or federal level brings a secure position with opportunities for advancement, and a comfortable salary with a number of benefits. These include sick leave, vacation pay, and a retirement plan. Among the various government jobs with a continuous employment demand are revenue agents.
Salary Potential as Influenced by the Market
Salary potential is influenced by the job market conditions, as are employment opportunities. The need for revenue agents is expected to increase by seven percent through the year 2020. The projection was estimated in large part by improvements in the economy, generating more tax returns by companies and individuals.
The complexities of tax laws require that revenue agents have a solid background in the areas of finance or accounting. They must have the ability to work with computerized tax programs software. Correspondingly, they must constantly update their knowledge base to adjust to evolving tax regulations and policies. Their duties may include investigating tax returns to determine the accuracy of the taxpayers’ information and possible additional tax liabilities. Revenue agents also examine the use of tax deductions and tax credit for their compliance with the law.
Salary Reports and Career Paths
The salary of a revenue agent is dependent partly on regional activities at the State or local level, and partly on work experience or GS rating at the federal level. The average salary for a revenue agent job is $51,000 a year, with the top ten percent earning $92,000 or more. Specific requirements for obtaining a revenue agent job can also vary significantly.
At the local and State level, the organization may be willing to hire applicants with a high school diploma and some work experience, training them for their job capacity. However, preference is increasingly given to those with advanced education; generally a BA or better; in accounting, economics, or other related field.
There is a great deal of diversity in the field of revenue agents. Typically, there are two main career paths to choose from for the novice agent; either in the area of a tax generalist or as a tax specialist with expertise in particular types of tax law or services related to a particular industry.
Another career path is in management. Management jobs are available to technical professionals and to instructors of new trainees in tax revenue training. They can also include positions such as public speakers, tax payer assistants and part of a task force studying particular issues.
Entry level tax revenue agents generally work under the supervision of senior staff members. Their training is often in a classroom setting, combining computer knowledge with instruction in tax laws, report writing, taxpayer relationships, fraud detection and research.
There is ample opportunity for advancement. The beginning revenue agent generally has a GS- 5, GS -7 or GS- 9 status, depending on the degree of education, active knowledge base and work experience. Depending on job performance, a revenue agent may expect a non-competitive promotion each year until acquiring a GS- 11 level status. Vacancies at the GS- 12 and GS- 13 level are based on staffing and program needs.