Feds Collect Record Income and Payroll Taxes Through July

(Worthy News) – The federal government collected record amounts of both individual income taxes and payroll taxes through the first ten months of fiscal 2017 (Oct. 1, 2016 through the end of July), according to the Monthly Treasury Statement.

Through July, the federal government collected approximately $1,312,691,000,000 in individual income taxes.

At the same time, it collected $976,278,000,000 in Social Security and other payroll taxes.

This year’s record of $1,312,691,000,000 in October-to-July individual income taxes is $3,259,140,000 more than the 2015’s previous record of $1,309,431,860,000. [ Source (Read More…) ]

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