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Revenue specialist vs internal revenue agent

The differences between revenue specialists and internal revenue agents can be seen in a few details. Each job has different responsibilities and duties. It typically takes 1-2 years to become both a revenue specialist and an internal revenue agent. Additionally, an internal revenue agent has an average salary of $71,853, which is higher than the $44,779 average annual salary of a revenue specialist.

The top three skills for a revenue specialist include patients, revenue cycle and CPT. The most important skills for an internal revenue agent are partnerships, CPA, and IRS.

Revenue specialist vs internal revenue agent overview

Revenue SpecialistInternal Revenue Agent
Yearly salary$44,779$71,853
Hourly rate$21.53$34.54
Growth rate-7%-7%
Number of jobs28,76335,750
Job satisfaction--
Most common degreeBachelor's Degree, 52%Bachelor's Degree, 76%
Average age4848
Years of experience22

What does a revenue specialist do?

A revenue specialist is in charge of overseeing and processing payments for their company, ensuring accuracy and timeliness. Their responsibilities revolve around reviewing invoices and insurance claims, monitoring tax deductions and expenses, liaising with external parties, collecting payments, producing progress and revenue reports, and maintaining records of all transactions. Furthermore, as a revenue specialist, it is essential to devise strategies for managing revenues, all while upholding the company's policies and regulations, including its vision and mission.

What does an internal revenue agent do?

An internal revenue agent is primarily in charge of auditing and examining businesses' and individuals' financial records to ensure compliance with tax laws and payments. Their responsibilities typically revolve around reaching out to clients through calls and correspondence, arranging appointments, traveling to different locations, gathering and reviewing documentation, and even processing tax payments. Furthermore, as an internal revenue agent, it is essential to discuss and help taxpayers understand the tax laws, assist in complex procedures, and provide counseling as needed, all while adhering to the government laws and regulations.

Revenue specialist vs internal revenue agent salary

Revenue specialists and internal revenue agents have different pay scales, as shown below.

Revenue SpecialistInternal Revenue Agent
Average salary$44,779$71,853
Salary rangeBetween $28,000 And $71,000Between $32,000 And $161,000
Highest paying CityCamden, NJLaguna Niguel, CA
Highest paying stateNew JerseyNew Jersey
Best paying companyMcKinsey & Company IncInternal Revenue Service
Best paying industryManufacturingGovernment

Differences between revenue specialist and internal revenue agent education

There are a few differences between a revenue specialist and an internal revenue agent in terms of educational background:

Revenue SpecialistInternal Revenue Agent
Most common degreeBachelor's Degree, 52%Bachelor's Degree, 76%
Most common majorBusinessAccounting
Most common collegeUniversity of Southern CaliforniaUniversity of Southern California

Revenue specialist vs internal revenue agent demographics

Here are the differences between revenue specialists' and internal revenue agents' demographics:

Revenue SpecialistInternal Revenue Agent
Average age4848
Gender ratioMale, 24.3% Female, 75.7%Male, 59.3% Female, 40.7%
Race ratioBlack or African American, 12.9% Unknown, 3.2% Hispanic or Latino, 16.2% Asian, 9.9% White, 57.5% American Indian and Alaska Native, 0.2%Black or African American, 13.0% Unknown, 3.3% Hispanic or Latino, 17.0% Asian, 10.3% White, 56.1% American Indian and Alaska Native, 0.2%
LGBT Percentage8%8%

Differences between revenue specialist and internal revenue agent duties and responsibilities

Revenue specialist example responsibilities.

  • Process account receivables, charge entry, claims, and reimbursement in adherence to Medicare and all HMO guidelines.
  • Establish a strong understanding of ICD-9 diagnosis and medical inventory codes.
  • Work claim edits to ensure clean claim billing to Medicare/Medicare HMO's.
  • Review the complex medical records and accurately codes primary/secondary diagnoses and procedures using ICD-10-CM and CPT coding conventions.
  • Initiate appeals and ensure required documentation are submitted in the appeals process.
  • Complete appeals when authorization are not obtain and or unusual procedure are performed.
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Internal revenue agent example responsibilities.

  • Manage teams of cooperating agents from areas such as international taxation, employment tax, and economists when conducting tax audits.
  • Utilize computer technology to access legal bulletins, IRS notices, and tax-relate court decisions.
  • Conduct workshops on occasion in specific areas of the tax law and regarding IRS procedures.
  • Negotiate with CPA's and attorneys to settle and close audits and assess deficiencies and refunds.
  • Review and approve relief application forms.
  • Generate partnerships with existing and new businesses.
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Revenue specialist vs internal revenue agent skills

Common revenue specialist skills
  • Patients, 17%
  • Revenue Cycle, 13%
  • CPT, 6%
  • Data Entry, 5%
  • Medical Terminology, 5%
  • Medicaid, 5%
Common internal revenue agent skills
  • Partnerships, 23%
  • CPA, 18%
  • IRS, 15%
  • Financial Transactions, 13%
  • Income Tax Returns, 9%
  • Tax Issues, 5%

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