Federal Tax Posts
The IRS has issued its annual Data Book detailing its activities during fiscal year 2023. As the publication’s name implies, it’s packed with statistics. For example, during FY 2023, the IRS collected approximately $4.7 trillion in gross taxes. This amount accounts for about 96% of the funding that supports the federal government’s operations. In addition, in FY 2023, the IRS processed more than 271.4 million tax returns and other forms, including more than 163.1 million individual income tax returns. Beyond stats, the Data Book reflects on the initial impacts of the long-term funding provided by the Inflation Reduction Act. To read the 2023 Data Book: https://bit.ly/3Us8cvC
