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Revenue agents audit tax returns for companies and corporations on behalf of federal, state, and local revenue agencies. The job requires a college degree, accounting experience, specialized training, and meeting government hiring requirements. Candidates need a background in accounting and business procedures, and must undergo extensive pre-screening due to the sensitive nature of the job. After meeting hiring requirements, candidates must pass an exam and complete on-the-job training.
Revenue agents are basically tax accountants for federal, state, and local revenue agencies. Unlike tax examiners who audit individual income tax returns, revenue agents audit the various returns filed by companies and corporations. For students looking to become a revenue agent, the position typically requires a college degree, gaining accounting experience, specialized training, and meeting government hiring requirements.
Businesses and businesses annually file a variety of tax-related returns that can include income, sales, and withholding tax. These returns are monitored by revenue agents who work for agencies that collect tax revenue for various government agencies. These returns can be delivered by a wide variety of commercial entities, ranging from freelancers to global corporations.
Agents working for municipalities often audit small and large businesses, while those working at higher government levels often specialize in specific types of businesses. Due to the varied nature of this work, agents typically need to enter the profession with a solid background in accounting and an understanding of business procedures. Hiring requirements vary by agency, but almost always include an educational background in accounting and work experience.
The minimum educational requirement to become a revenue agent is typically a bachelor’s degree. Most employers prefer candidates with degrees in economics, auditing or business administration. Courses recommended for college often include advanced courses in accounting principles and practices, financial accounting, cost accounting, and auditing. Studies in other business-related areas such as global business and business management are also recommended.
Candidates who want to become a revenue agent are usually required to have previous experience in accounting or business administration before they qualify for the agent exam. Many new graduates work as entry-level accountants and auditors in business before becoming revenue agents. Some agencies accept a combination of work experience and education, while others may require 2 to 5 years of work experience.
Most government agencies require applicants who are trying to become a revenue agent to undergo extensive pre-screening due to the highly sensitive nature of their job. Agents will generally have access to the private financial records of major companies and corporations whose security must be protected. Background investigations often include looking into an applicant’s criminal, financial, and medical history. The IRS and many state agencies may also investigate applicants’ personal income tax returns and other related records.
After meeting hiring requirements and passing a background investigation, revenue agent candidates are typically required to take an exam or series of exams, depending on the agency. Exams generally cover a wide range of material, tax codes and regulations, audit practices, investigation procedures, and taxpayer rights. After passing the exams, agents usually have an on-the-job training period, which may include courses and supervised auditing.
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