Revenue Officer

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.



comments powered by Disqus
Hot Definitions
  1. Benchmark Bond

    A bond that provides a standard against which the performance of other bonds can be measured. Government bonds are almost always used as benchmark bonds. Also referred to as "benchmark issue" or "bellwether issue".
  2. Market Capitalization

    The total dollar market value of all of a company's outstanding shares. Market capitalization is calculated by multiplying a company's shares outstanding by the current market price of one share. The investment community uses this figure to determine a company's size, as opposed to sales or total asset figures.
  3. Oil Reserves

    An estimate of the amount of crude oil located in a particular economic region. Oil reserves must have the potential of being extracted under current technological constraints. For example, if oil pools are located at unattainable depths, they would not be considered part of the nation's reserves.
  4. Joint Venture - JV

    A business arrangement in which two or more parties agree to pool their resources for the purpose of accomplishing a specific task. This task can be a new project or any other business activity. In a joint venture (JV), each of the participants is responsible for profits, losses and costs associated with it.
  5. Aggregate Risk

    The exposure of a bank, financial institution, or any type of major investor to foreign exchange contracts - both spot and forward - from a single counterparty or client. Aggregate risk in forex may also be defined as the total exposure of an entity to changes or fluctuations in currency rates.
  6. Organic Growth

    The growth rate that a company can achieve by increasing output and enhancing sales. This excludes any profits or growth acquired from takeovers, acquisitions or mergers. Takeovers, acquisitions and mergers do not bring about profits generated within the company, and are therefore not considered organic.
Trading Center