Internal Revenue Agent Career
Considering a career as an Internal Revenue Agent? Find out all you need to know to decide whether this career is right for you.
- What does an Internal Revenue Agent do?
- How to become an Internal Revenue Agent?
- What is an Internal Revenue Agent's Salary?
- How does the future look for an Internal Revenue Agent?
What does an Internal Revenue Agent do?
The role of an Internal Revenue Agent is to examine the records of businesses and corporations to ensure tax liabilities are met. An Internal Revenue Agent is employed by the Internal Revenue Service or through state or local government entities.
The work of an Internal Revenue Agent can be extremely difficult. Tax liabilities of some businesses can only be determined through analyzing various forms of highly complicated tax returns.
To be a successful Internal Revenue Agent, you will need to possess certain attributes. You will need to have highly developed analytical skills. You will need to be organized. Due to the autonomous nature of the job, you will need to be able to manage your time well. Lastly, you will need to be confident working with computers and complicated auditing software.
Much of the labor intensive number crunching Internal Revenue Agents have previously had to perform is now done with the aid of auditing software. There is actually software that helps identify illegal accounting trends through processing the tax return data of dubious companies.
As you gain expereience as an Internal Revenue Agent, you will likely specialize in a particular industry such as multi-national corporations or certain types of manufacturing or financial institutions. The reason for this lies in the abundance of tax laws and codes established for each industry.
Some Internal Revenue Agents even specialize in auditing the books of suspected criminals, drug dealers or money launderes. If you specialize in this field, you may find yourself summoned to give testimony in front of a jury.
Becoming an Internal Revenue Agent is hard work but can be a highly rewarding occupation both personally and financially.
How to Become an Internal Revenue Agent?
For most Revenue Agent careers, the minimum educational requirement is the completion of a Bachelor's degree. However, there are a few organizations at state and local levels who hire individuals with an Associate's degree in Accounting.
If you are interested in pushing your career forward as fast as possible, then you may wish to earn an advanced degree such as an MBA with an emphasis in Accounting.
In a hurry? Request free information from some of the top online schools offering Master's or MBA programs in Accounting.
Beyond a quality education and the development of skills necessary to succeed as an Internal Revenue Agent, you will need to learn where to gain experience by finding career opportunities.
You will find many career opportunities on the Internal Revenue Service's Website. If you are interested in lower level Revenue Agent employment, contact your local or state government entity.
What is an Internal Revenue Agent's Salary?
As an Internal Revenue Agent, your salary can vary significantly depending on your level of experience and your level of acquired education.
The median salary* for an Internal Revenue Agents is $45,600.
However, the top 10% of Internal Revenue Agents are pulling in an average of $81,600.
In order to boost yourself to this level of success, you will need to perform highly, develop years of experience at a respectable company, acquire all associated certifications and lastly, earn yourself an advanced degree.
Request information from some of the top online schools in the United States. Online schools are becoming more popular for the working professional and are already highly respected in the business arena.
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* Source: The Bureau of Labor and Statistics for 2006
How does the future look for an Internal Revenue Agent?
Job growth is supposed to be lower for Internal Revenue Agents than other careers in the United States. The reason for this lies in the increased productivity of current systems with the help of automated systems and auditing software. Many tax examining careers are being lost. However, those with specialized and indepth knowledge of tax laws will still see strong employment opportunities.
The U.S. Department of Labor believes between 2004 and 2014, Internal Revenue Agent career opportunities will increase by 5% from 76,100 to 80,000.
For motivated and specialized individuals, the future still looks bright for the Internal Revenue Agent profession, so go ahead and get started!
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