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. 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. Investing Basics

    Are arm's length transactions always better than transactions not at arm's length?

    Transactions not at arm's length have real tax and other consequences for individuals and businesses, but they are not necessarily always worse.
  5. Taxes

    What are the best ways to lower my taxable income?

    Paying taxes is an unavoidable obligation each year, but individuals and business owners can take advantage of various strategies for tax savings.
  6. Fundamental Analysis

    What's a Prospectus?

    The Security and Exchange Commission (SEC) requires that any company raising money from potential investors through the sale of securities must file a prospectus with the SEC and then provide ...
  7. Professionals

    Want To Be A Financial Planner? Eye These Schools

    If you're interested in becoming a financial planner here's a quick look at what to expect and short list of the top schools.
  8. Brokers

    How does lack of corporate social responsibility hurt a company's bottom line?

    Learn about the perils of a lack of corporate social responsibility. Examine the WorldCom fraud, which led to its bankruptcy and imprisonment for its officers.
  9. Taxes

    If I reinvest my dividends, are they still taxable?

    Take a brief look at how the Internal Revenue Service taxes different kinds of dividends, including taxation on dividends that are reinvested.
  10. Professionals

    What's the average salary of someone with a finance major?

    Learn how much you can earn with a finance degree. Decide if a business career or finance career is more appealing for you based on average yearly salaries.

You May Also Like

Hot Definitions
  1. Weight Of Ice, Snow Or Sleet Insurance

    Financial protection against damage caused to property by winter weather specifically, damage caused if a roof caves in because ...
  2. Weather Insurance

    A type of protection against a financial loss that may be incurred because of rain, snow, storms, wind, fog, undesirable ...
  3. Portfolio Turnover

    A measure of how frequently assets within a fund are bought and sold by the managers. Portfolio turnover is calculated by ...
  4. Commercial Paper

    An unsecured, short-term debt instrument issued by a corporation, typically for the financing of accounts receivable, inventories ...
  5. Federal Funds Rate

    The interest rate at which a depository institution lends funds maintained at the Federal Reserve to another depository institution ...
  6. Fixed Asset

    A long-term tangible piece of property that a firm owns and uses in the production of its income and is not expected to be ...
Trading Center