Gov’t sets Tax Day tax record, collects $1,477,901,000,000+

Gov’t sets Tax Day tax record, collects $1,477,901,000,000+

The federal government has set an all-time record for the amount of inflation-adjusted tax revenue brought into the federal Treasury from the beginning of the fiscal year through the April 15 tax-filing deadline.

As of the close of business on April 14, the Treasury had brought in a record $1,477,901,000,000 since fiscal 2015 started on Oct. 1, 2014, according the Daily Treasury Statement released this afternoon.

We won’t know how much additional tax revenue the Treasury hauled in today until it releases its next daily statement tomorrow at 4:00 p.m. But every dollar of it will add to the new record.

Despite this record flow of tax revenue, the federal government ran a deficit of $439.47 billion in October through March, according to the Monthly Treasury Statement that was released Monday afternoon.

In fiscal 2014, in constant 2015 dollars, the Treasury collected $1,416,555,440,000 in taxes from the beginning of the fiscal year through the close of business on April 15. Up until then, that was the record federal tax haul through April 15. This year’s total of $1,477,901,000,000 through April 14, already surpasses last year’s record through April 15 by $61,345,560,000—or 4.3 percent.

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