Revenue Agent
What Is a Revenue Agent?
A revenue agent is an accountant employed by the Internal Revenue Service (IRS), or neighborhood or state governments to look at and audit tax returns and records. A revenue agent's job is to ensure that tax liabilities of people, small organizations, corporations, and other tax-paying entities have been met. Regularly, revenue agents hold a four year certification or, at times, a partner's degree in accounting.
Grasping Revenue Agents
Revenue agents might perform a variety of tasks including reviewing documented tax returns for precision and conducting face to face audits outside of the office. For an essential audit, revenue agents might contact a taxpayer via mail or telephone to examine a return or request supporting reports.
Revenue agents might have specialized foundations and training and might be employed in various tax enforcement of divisions. These specialists can have a variety of titles, like financial products and transactions examiners (FPTE), international examiners (IE), employment tax specialists (ETS), and computer audit specialists (CAS).
Special Considerations
Some revenue agents work solely on the records of thought crooks, including street pharmacists and money launderers. Those agents who specialize in this field might be required to give declaration in a court of law. Senior revenue agents generally inspect the most confounded tax returns including people or organizations.
Requirements for Revenue Agents
Revenue agents for the IRS generally require a four year college education or higher in accounting. Nonetheless, the IRS will consider candidates that have studied something like four straight years at a university, including 30 semester hours of accounting. The above can be deferred assuming the candidate is a Certified Public Accountant (CPA) or has a combination of experience and education that incorporates no less than 30 semester hours of accounting.
IRS revenue agents are not required to be Certified Public Accountants (CPAs).
Revenue Agent versus Revenue Officer
Revenue agents handle tax audits. In the interim, a revenue officer really collects taxes. Revenue officers cover the more troublesome tax cases. At the point when the IRS has not had the option to collect through letters, calls, tax levies, or garnishments, they send revenue officers.
The job of a revenue agent is to decide tax liability through an audit. The audit agents conduct is otherwise called an examination. In the interim, revenue officers generally have no accounting training. They really do have prudence on seizing and selling assets to cover tax liabilities, as well as lien releases. They can likewise endorse or dismiss installment plans.
Features
- Some revenue agents work solely on the records of thought crooks, including street pharmacists and money launderers.
- A revenue agent works with the IRS or a state or neighborhood government to look at and audit tax returns.
- Revenue agents might perform a variety of tasks including reviewing documented tax returns for exactness and conducting face to face audits outside of the office.
- In the mean time, revenue officers collect taxes, dealing with the most troublesome tax cases.
- Revenue agents for the IRS have certain education requirements, including making them account education.
