IRS Collected $2.4 Trillion in FY 2007
As in recent years, about $350 billion in taxes due went uncollected, representing an annual phenomenon the IRS calls the "tax gap."
In processing more than 235 million individual and business tax returns, the IRS spent an average of 40 cents to collect each $100 of taxes, the lowest cost per $100 in seven years.
The IRS Takes and Gives Back: While it often seems like they are all about "take," the IRS paid out tax refunds totaling $248.6 billion to more than 114 million individual tax return filers, and answered more than 33.2 million toll-free calls from taxpayers during 2007.
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Comments
“the IRS paid out tax refunds totaling $248.6 billion to more than 114 individual tax return filers”
How do I get on the list of 114 lucky people who split $250 billion in refunds??
its 114 million! not just 114 people!
Do you know how much total taxable income for this same year was? I want to know what percent(%) of the total is, to find out how much of a simple tax would bring in the same results.
There is an error in the article. 248 billion was not taken from individual taxes – it was the amount refunded to individuals. The actual amount taken was 1,117,599,983 (after the refunds). The actual total collected was $2,027,809,148 after all refunds etc. Individual taxes and employment taxes made up the lions share of this.
Amemdment on last – 2.4 trillion was the collective total as stated in the article. Sorry about that.
I looked up some gov’t statics and they didn’t have corporation taxes for the last few years. Does the gov’t collect corporate tax or just give the $$$ back? My cousin says corporations don’t pay any taxes.
Suedi — Corporations are taxed, however two-thirds of all large U.S.- and foreign-controlled business operating in the U.S. do manage to pay no taxes. Some do so legally, just like private citizens, by claiming legal deductions. Other cheat. See:
http://usgovinfo.about.com/b/2008/08/13/big-business-pays-no-taxes-gao-finds.htm
Robert