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. Loophole

    A technicality that allows a person or business to avoid the ...
  2. Office Audit

    An examination of a taxpayer's records by the Internal Revenue ...
  3. Taxes

    An involuntary fee levied on corporations or individuals that ...
  4. Notice Of Seizure

    A letter or written notice from the Internal Revenue Service ...
  5. Revenue Agent

    An accountant who works for the U.S. Internal Revenue Service ...
  6. Revenue Ruling

    A decree issued by the IRS that essentially has the force of ...
Related Articles
  1. Tax Tips For The Individual Investor
    Retirement

    Tax Tips For The Individual Investor

  2. Tax Court: Your Last Resort
    Taxes

    Tax Court: Your Last Resort

  3. Examining A Career As An Auditor
    Professionals

    Examining A Career As An Auditor

  4. Introduction To Financial Planning Organizations
    Personal Finance

    Introduction To Financial Planning Organizations

comments powered by Disqus
Hot Definitions
  1. 80-10-10 Mortgage

    A mortgage transaction in which a first and second mortgage are simultaneously originated. The first position lien has an ...
  2. Passive ETF

    One of two types of exchange-traded funds (ETFs) available for investors. Passive ETFs are index funds that track a specific ...
  3. Walras' Law

    An economics law that suggests that the existence of excess supply in one market must be matched by excess demand in another ...
  4. Market Segmentation

    A marketing term referring to the aggregating of prospective buyers into groups (segments) that have common needs and will ...
  5. Effective Annual Interest Rate

    An investment's annual rate of interest when compounding occurs more often than once a year. Calculated as the following: ...
  6. Debit Spread

    Two options with different market prices that an investor trades on the same underlying security. The higher priced option ...
Trading Center