Monthly Federal Tax Revenues Hit All-Time Record in April; Individual Income Taxes Up 36%

Photo Credit: APFederal tax revenues hit an all-time non-inflation-adjusted monthly high of approximately $406.7 billion in April, according to newly released data from the U.S. Treasury.

Overall federal tax revenues in April 2013 were up 28 percent from April 2012, and individual-income-tax revenues specifically were up 36 percent.

Because federal income tax returns are due on April 15, April is almost always the peak month for federal tax revenues. (Over the past twelve years, the only year that deviated from that pattern was 2010, when the federal government took in $251 billion in July compared to $245.3 billion in April.)

Prior to this April, nominal federal monthly tax revenues had hit their historic peak in April 2008, when they reached approximately $403.8 billion. The third highest month for federal tax revenues was April 2007, when they hit $383.6 billion, and the fourth highest month was April 2012, when they hit $318.8 billion.

The $406.7 billion in overall tax revenue the Treasury raked in this April was an increase of about 28 percent from the $318.8 billion raked in last April.

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