Revenue Agent Careers Information
The business tax code is so complex, in fact, that government agencies such as the IRS employ revenue agents who are highly skilled and specialized tax examiners. It is their job to check the tax returns of businesses to make sure the accounting is correct and that all pertinent laws are followed. Because businesses can be quite large, some even spanning multiple countries, and the tax code is constantly changing, the work of a revenue agent can be very demanding.
Revenue Agent Careers & Degrees
- Grand Canyon University: Online
Colorado Technical University - Undergraduate: Undergraduate - Online
Post University: Online- Associate Degree: A.S. in Accounting
- Associates: Accounting
- Bachelor Degree: B.S. in Accounting
- Bachelors: Accounting
Revenue agents may work at the federal, state, or local level. Oftentimes, a revenue agent will specialize in a specific industry or field, such as manufacturing, or in businesses of a certain size, like multinational corporations. Beginning revenue agents will usually work with small businesses with a more limited scope until they gain the experience necessary to work with major accounts.
Revenue agents analyze the financial data that may lead them to fraud; by studying trends, they may be able to discover the so-called “creative accounting techniques” sometimes used to exploit loopholes in the tax law. Because of this skill, revenue agents often work with law enforcement agencies to uncover fraud or other shady business practices of criminal organizations.
Revenue Agent Careers Path
Because of the complexities of business tax code, revenue agents usually have a Bachelor’s degree in accounting, economics, business administration or a related field with at least 30 semester hours accounting coursework.
Experience with bookkeeping, accounting, or other tax related work is also often necessary. Because revenue agents often specialize in a particular industry, experience in that industry can be useful. Once hired, a revenue agent can expect to complete many hours of on-the-job training and perhaps even further classroom training.
Revenue Agent Careers: Compatible Personality Traits
Excellent analytical skills, excellent mathematic skills, good with computers, good communicator, people skills, trustworthy, good under pressure, able handle complex instructions, willing to travel and work odd hours on occasion.
Revenue Agent Careers: Salary Expectations
The average annual salary for a revenue agent is $48,100 a year, with the middle fifty percent earning between $36,590 and $66,730. For those tax specialists working for the IRS, however, the average salary is $63,547 a year.
IRS internal revenue agents take home an average of $91,507 a year. With more experience, a revenue agent may move up into management positions and earn a higher salary commensurate with the increased responsibility. Like many government positions, revenue agents also receive benefits such as medical and life insurance, retirement plans, and paid vacation and sick days.
Revenue Agent Careers: Job Outlook
As businesses become larger and more complex with the rise of globalization, tax collecting agencies will need revenue agents who can wade through the complex and ever changing tax laws. Some new agents will also be needed to replace those who will retire or leave the field in the coming years.
Competition for positions at the federal level, especially at the IRS, will be tougher than at the state and local levels. Those persons with a higher education level and more experience will be the most likely to find the best positions at the upper levels.
Slightly off the Footpath
Source: bls.gov/oco/ocos260.htm
