Revenue Officer

AAA

DEFINITION of 'Revenue Officer'

An individual who collects revenues such as taxes and duties on behalf of the government. A revenue officer is generally employed by a government agency such as the Internal Revenue Service (IRS) in the United States, or the Canada Revenue Agency in Canada. Some organizations have a position known as Chief Revenue Officer, who is a person responsible for all revenue-generating functions and also oversees the strategy for profitable revenue generation over the long term.

INVESTOPEDIA EXPLAINS 'Revenue Officer'

The specific duties of a Revenue Officer depend on the agency that employs him or her.


In the IRS, for instance, the primary responsibility of Revenue Officers is collecting delinquent taxes and overdue tax returns from taxpayers. Their duties therefore include conducting face-to-face interviews with taxpayers, obtaining and analyzing financial information to ascertain their ability to pay the tax bill, designing payment plans to help those with tax arrears pay them over time, and garnishing wages and seizing personal property to pay off delinquent taxes.

Excise tax revenue officers in Canada, on the other hand, have more of an audit, advisory and legal role.

RELATED TERMS
  1. Revenue Ruling

    A decree issued by the IRS that essentially has the force of ...
  2. Taxes

    An involuntary fee levied on corporations or individuals that ...
  3. Office Audit

    An examination of a taxpayer's records by the Internal Revenue ...
  4. Loophole

    A technicality that allows a person or business to avoid the ...
  5. Revenue Agent

    An accountant who works for the U.S. Internal Revenue Service ...
  6. Notice Of Seizure

    A letter or written notice from the Internal Revenue Service ...
Related Articles
  1. Retirement

    Tax Tips For The Individual Investor

    We give you seven guidelines to help you keep more of your money in your pocket.
  2. Taxes

    Tax Court: Your Last Resort

    Appealing an unfavorable or unfair tax ruling may be your last chance to save your finances.
  3. Professionals

    Examining A Career As An Auditor

    Stricter government regulations have put auditing professionals in demand.
  4. Investing

    Buffett’s Most Misunderstood Investment Advice

    Warren Buffett is undeniably the most successful investor in history. He's constantly ask for advice, and he is never short of blunt and witty tidbits.
  5. Taxes

    How Does An IRS Audit Work?

    It doesn't automatically mean an IRS agent will be ringing your doorbell. Here are the different types of IRS audits and how to handle them.
  6. Investing Basics

    Top Financial Planning Colleges: A Primer

    An overview of the top colleges for financial planners and advisors.
  7. Personal Finance

    What Do Certified Financial Planners Earn?

    Individuals with the Certified Financial Planner designation enjoy an above-average salary range as well as promising current and future job availability.
  8. Professionals

    Financial Accounting

    Financial accounting is the process of gathering, recording, summarizing and reporting financial data relating to a business. The ultimate goal is to accurately report the financial picture and ...
  9. Investing

    What is Portfolio Management?

    Portfolio management is the act of maximizing the return on a portfolio. This is done with trading decisions made for the marketable securities in that portfolio. A portfolio manager, or a team ...
  10. Investing

    What's a Hurdle Rate?

    Hurdle rate has two meanings. In the business world, a business typically makes a decision on a capital project based on the net present value approach. To determine the net present value, the ...

You May Also Like

Hot Definitions
  1. Interest Rate Risk

    The risk that an investment's value will change due to a change in the absolute level of interest rates, in the spread between ...
  2. Income Effect

    In the context of economic theory, the income effect is the change in an individual's or economy's income and how that change ...
  3. Price-To-Sales Ratio - PSR

    A valuation ratio that compares a company’s stock price to its revenues. The price-to-sales ratio is an indicator of the ...
  4. Hurdle Rate

    The minimum rate of return on a project or investment required by a manager or investor. In order to compensate for risk, ...
  5. Market Value

    The price an asset would fetch in the marketplace. Market value is also commonly used to refer to the market capitalization ...
  6. Preference Shares

    Company stock with dividends that are paid to shareholders before common stock dividends are paid out. In the event of a ...
Trading Center