Tax Day tax revenue sets all-time record

Tax Day tax revenue sets all-time record

Inflation-adjusted federal tax revenues hit an all-time record of $1,428,710,000,000 from the beginning of the fiscal year on Oct. 1 through April 15, the deadline for filing federal tax returns for 2013, according to the Daily Treasury Statement.

Each business day, the Treasury publishes a statement summarizing the government’s accounts as of the close of the previous business day. This daily statement includes an accounting of total “Federal Tax Deposits” thus far in the fiscal year, which starts on Oct. 1 and ends on Sept. 30. Total “Federal Tax Deposits” include withheld income and employment taxes, individual income taxes, railroad retirement taxes, excise taxes, corporation income taxes, federal unemployment taxes, estate and gift taxes and miscellaneous Internal Revenue Service receipts.

As of the close of business on April 15, according to the Daily Treasury Statement, the Treasury had taken in $1,428,710,000,000 in total taxes so far this fiscal year.

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