Total Receipts
Receipts for fiscal year 2007 were $2.4 trillion. FY2007 on-budget receipts were $1.7 trillion. FY2007 off-budget receipts were $608 billion. Off-budget receipts include Social Security and Medicare payroll taxes, as well as the net profit or loss of the U.S. Postal Service.
- $1.1 trillion - Individual income tax (43.9%)
- $869.6 billion - Social Security and other payroll taxes (34.7%)
- $370.2 billion - Corporate income tax (14.8%)
- $65.1 billion - Excise taxes (2.6%)
- $26.0 billion - Customs duties (1%)
- $26.0 billion - Estate and gift taxes (1%)
- $47.2 billion - Other (1.9%)
Source: preliminary FY2007 year-end estimate from the U.S. Treasury Dept.
The IRS estimated that there were about $345 billion in uncollected taxes, which is sometimes referred to as the "tax gap.".
Read more about this topic: 2007 United States Federal Budget
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