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.

BREAKING DOWN '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. Taxes

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

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

    1. An unbiased examination and evaluation of the financial statements ...
  4. Internal Revenue Service - IRS

    A United States government agency that is responsible for the ...
  5. Loophole

    A technicality that allows a person or business to avoid the ...
  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. Taxes

    Employers: Don't Forget IRS Form 941

    Your obligations as an employer include various employment taxes. Use this form to report them.
  5. Entrepreneurship

    What's the Purpose of IRS Form 1065?

    Business partners need the information on this form to complete their own tax returns. Here are the details.
  6. Taxes

    What's IRS Form 2848 Used For?

    It's a power of attorney tax form and here's what it can, and cannot, do.
  7. Retirement

    How IRS Form 5498 Helps You

    If you have an IRA, you'll be getting this form. Here's the useful information it contains.
  8. Term

    Is A Robo-Advisor Right For You?

    A robo-advisor is an automated service that provides algorithm-based portfolio management.
  9. Mutual Funds & ETFs

    Understanding Taxation On Leveraged ETFs

    Read about the potential tax implications for investors of leveraged exchange-traded funds, or ETFs, and learn why leveraged ETF taxation can be so complicated.
  10. Term

    What is Financial Technology?

    Financial technology, or fintech, is a financial services sector that emerged in the 21st century.
RELATED FAQS
  1. How do you calculate penalties on an IRA or Roth IRA early withdrawal?

    With a few exceptions, early withdrawals from traditional or Roth IRAs generally incur a tax penalty equal to 10% of the ... Read Full Answer >>
  2. Are credit card rewards taxable?

    Credit card rewards are taxable in the United States some of the time. The Internal Revenue Service (IRS) classifies credit ... Read Full Answer >>
  3. How is market value determined in the real estate market?

    Anyone who has ever tried to purchase or sell a home has probably heard a lot about the property's fair market value, or ... Read Full Answer >>
  4. How do alimony and child support factor into my taxable income?

    The Internal Revenue Service, or IRS, applies a different tax treatment to alimony than child support. Most forms of alimony ... Read Full Answer >>
  5. How do I avoid a tax lien on my property?

    The best way to avoid a tax lien on your property is to make sure you pay all your state, municipal and federal taxes in ... Read Full Answer >>
  6. What is the difference between AGI (adjusted gross income) and gross income?

    In the United States, individuals pay taxes based on their adjusted gross income, or AGI, rather than their gross income. ... Read Full Answer >>

You May Also Like

Hot Definitions
  1. Alligator Spread

    An unprofitable spread that occurs as a result of large commissions charged on the transaction, regardless of favorable market ...
  2. Tiger Cub Economies

    The four Southeast Asian economies of Indonesia, Malaysia, the Philippines and Thailand. Tiger cub economy indicates that ...
  3. Gorilla

    A company that dominates an industry without having a complete monopoly. A gorilla firm has large control of the pricing ...
  4. Elephants

    Slang for large institutions that have the funds to make high volumes trades. Due to the large volumes of stock that elephants ...
  5. Widow's Exemption

    In general terms, a widow's exemption refers to the amount that can be deducted from taxable income by a widow, thereby reducing ...
  6. Wedding Warrant

    A warrant that can only be exercised if the host asset, typically a bond or preferred stock, is surrendered. Until the call ...
Trading Center
×

You are using adblocking software

Want access to all of Investopedia? Add us to your “whitelist”
so you'll never miss a feature!