Federal Government Collects Record Taxes, Still Runs Deficit

1, 2016 through the end of March), according to the Monthly Treasury Statement. Read the rest here. Through March, the federal government collected approximately $695,391,000,000 in individual income taxes. The federal government also collected $547,491,000,000 in Social Security and other payroll taxes during the first six months of fiscal 2017. That is about $7,387,280,000 more than the $688,003,720,000 in individual income taxes (in constant 2017 dollars) that the federal government collected in the first six months of fiscal 2016. America money taxes US governmentThe federal government collected record amounts of both individual income taxes and payroll taxes through the first six months of fiscal 2017 (Oct. That is about $2,731,820,000 more than the $544,491,000,000 in Social Security and other payroll taxes (in constant 2017 dollars) that the government collected in the first six months of fiscal 2016.