The Treasury Department is the executive agency responsible for promoting economic prosperity and ensuring the financial security of the United States. The Department is responsible for a wide range of activities such as advising the President on economic issues, financial issues, encouraging sustainable economic growth, and fostering improved governance in financial institutions.
The Department of the Treasury was established in 1789 and operates and maintains systems that are critical to the nation’s financial infrastructure, such as the production of coin and currency, the disbursement of payments to the American public, revenue collection, and the borrowing of funds necessary to run the federal government. They have an annual budget exceeding $19 billion and employ 110,000 federal workers
1500 Pennsylvania Ave. NW, Washington, DC 20220: Phone: (202) 622-2000, Website: www.treas.gov
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A sampling of occupations employed by the Treasury:
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Agency, Department, and Bureau Jobs
- Treasury Dept USAJobs Listings
- Alcohol and Tobacco Tax and Trade Bureau (TTB)
- Bureau of Engraving & Printing (BEP)
- Bureau of the Public Debt (BPD)
- Financial Crimes Enforcement Network (FinCEN)
- Financial Management Service (FMS)
- Internal Revenue Service (IRS)
- Office of Thrift Supervision (OTS)
- Web Site: www.treasury.gov
The IRS will hire more than 17,000 new IRS Agents to enforce the new Health Care legislation.
The average annual salary exceeds $42,000 a year for IRS agents.
Internal Revenue Agent (IRA) administer the tax examinations for the largest corporations in America and coordinate examinations of multinational and national corporations. The principal duties and responsibilities include the following:
- Work with a variety of technical experts such as Economists, Financial Products Specialists and Engineers in addressing complex tax issues
- Determining appropriate tax assessments
- Frequently deal with corporations on complex tax issues such as tax shelters, mergers and acquisitions, global operations, and transfer pricing
- Work closely with their customers, often dealing with the senior levels of corporate tax departments and/or their representatives.
- Navigate complex financial arrangements involving consolidations, related multi-tiered ownership chains, and a myriad of taxing jurisdictions and how this translates to US Federal Tax liabilities.
Revenue agents specialize in tax-related accounting work for the U.S. Internal Revenue Service (IRS) and for equivalent agencies in State and local governments. Like tax examiners, they audit returns for accuracy. However, revenue agents handle complicated income, sales, and excise tax returns of businesses and large corporations. As a result, their work differs in a number of ways from that of tax examiners.
Revenue agents with the IRS must have either a bachelor’s degree or 30 semester hours of accounting coursework along with specialized experience. Specialized experience includes full-time work in accounting, bookkeeping, or tax analysis.
In March of 2010 the new health care legislation was signed and as a result the IRS must hire an additional 17,000 IRS agents to enforce the new health care legislation. In 2008, tax examiners, revenue agents, and collectors held about 72,700 jobs. About 98 percent worked for government. About 2 percent were self employed. In the IRS, tax examiners and revenue agents predominate because of the role of the agency. Collectors make up a smaller proportion, because most disputed tax liabilities do not require enforced collection.
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