The federal government collected a record $1,683,537,000,000 in individual income taxes in fiscal 2018 (October 2017 through September 2018), according to the Monthly Treasury Statement released today. owever, the federal government also ran a deficit of $778,996,000,000 during the fiscal year, according to the statement.
(As CNSNews.com has previously reported, the debt of the federal government--as opposed to the deficit--increased by $1,271,158,167,126.72 in fiscal 2018, according to official data published by the Treasury.)
The previous record for individual income tax collections in a fiscal year was in fiscal 2015, when the Treasury collected $1,634,657,240.........To Read More.....
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