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Robert Longley

IRS Collected $2.4 Trillion in FY 2007

By March 31, 2008

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How much does the federal government take in through income tax? During fiscal year 2007 (Oct. 1, 2006, to Sept. 30, 2007) the IRS reported collecting a total of almost $2.4 trillion after refunds, with $248.6 billion of that coming from individual taxpayers.

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

September 24, 2008 at 11:50 am
(1) JoshB says:

“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??

November 24, 2008 at 8:20 pm
(2) hj says:

its 114 million! not just 114 people!

March 14, 2009 at 4:07 pm
(3) Lee says:

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.

April 13, 2009 at 1:22 am
(4) Daves says:

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.

April 13, 2009 at 1:32 am
(5) Daves says:

Amemdment on last – 2.4 trillion was the collective total as stated in the article. Sorry about that.

April 23, 2009 at 9:13 am
(6) Suedi says:

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.

April 23, 2009 at 5:59 pm
(7) Robert says:

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

June 21, 2010 at 2:27 pm
(8) Judge says:

That amounts to a tax of over 10,000 for each of the 235 million taxpayers. It amounts to 851 dollars per month or a pmt of 28.36 for each day, assuming 30 days per month, that taxpayers have to pay our wonderful govt. Or about 1/4 of all wages go to income taxes assuming an average of 15 bucks per hour. If the avg is less then the percentage goes up. This does not include other taxes poerple must pay jsut to survive, sales, property, state, etc. So basically, Americans are slaves to business and business says “they care”, what about… their bottom line of course!

January 29, 2011 at 11:23 am
(9) hag says:

taxes that a corporation pays are considered a cost of doing business when setting its prices. Consumers will always pay the costs of doing business in the price of the products we consume, just like we do the cost of insuring the sellers and producers against liability, payroll costs, health insurance, shoplifting or theft, as well as the costs of the materials and manufacturing components and design, packaging, and advertising of the products themselves. If corporations paid more taxes to the government we would pay higher prices. I vote for lower prices.

October 11, 2011 at 10:53 pm
(10) Jeff WEaver says:

Hey Robert Longley

“IRS reported collecting a total $2.4 trillion dollars in taxes with $248.6 billion of that coming from individual taxpayers.

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.” – Robert Longley

So let me get this strait….
US GOV collects $248.6 billion from individual taxpayers
Allows $350 billion to go uncollected.
Then refunds $248.6 billion to 114 million return filers
So basically the government spends $1 Billion dollars not collecting $250 Billion dollars?!?!?!?! How does that make sense? Did you write this incorrectly or is this for real?

I like Presidential candidate Cain’s idea of a flat 9%-9%-9% tax rate across the board…. At least a whole hell of a lot more than I like what is going on at the moment.

January 13, 2012 at 8:20 pm
(11) Rothgar says:

Correctly cited we NEED to note that the 2.4 Trillion figure cited includes 814 Billion in Social Security (employment taxes) collections that makes the net general fund collections around 1.6 Trillion. The total of 235 million returns includes all individual, trust and corporations.

This means that the largest corporation and the smallest individual filers average a cost of 6808.

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