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Economy
Feds Collect Record Taxes in First Month Under Tax Cut; Run Surplus in January
2018-02-13
[CNSNews.com] - The federal government this January ran a surplus while collecting record total tax revenues for that month of the year, according to the Monthly Treasury Statement released today.

January was the first month under the new tax law that President Donald Trump signed in December.

During January, the Treasury collected approximately $361,038,000,000 in total tax revenues and spent a total of approximately $311,802,000,000 to run a surplus of approximately $49,236,000,000.

Despite the monthly surplus of $49,236,000,000, the federal government is still running a deficit of approximately $175,718,000,000 for fiscal year 2018. That is because the government entered the month with a deficit of approximately $224,955,000,000.
Posted by:Besoeker

#6  Thanks people. I was going to ask my bookkeeper, who is absolutely brilliant but she is buried right now. Tax season. She may be 'just' a bookkeeper, but she is far better than I am (4 years of accounting, zero hands on time); I defer to her insight. I keep her up to date on best carry and stuff. It works.
Posted by: Whiskey Mike   2018-02-13 13:10  

#5  What lord garth said - April 15th is when the first quarter estimated tax payments are due, followed by June 15th (Q2), Sept. 15th (Q3) and Jan. 15th (Q4). January collections also potentially reflect year-end bonuses to employees.
Posted by: Raj   2018-02-13 09:53  

#4  the surplus was about the same in January 2017

the monthly numbers reflex various tax management strategies

April is also a month with frequently a big surplus because people are filing

September also has a frequent surplus because of late filing and estimated payments for the next filing
Posted by: lord garth   2018-02-13 09:18  

#3  If the feds can keep that differential going, it will change the landscape for decades. I will have to look at this more closely, but is $49B per month enough.
Posted by: Whiskey Mike   2018-02-13 08:31  

#2  Absolutely BP. Great irony.
Posted by: Woodrow   2018-02-13 08:20  

#1  http://www.breitbart.com/big-journalism/2018/02/12/report-cnn-lay-off-50-employees-missing-revenue-targets/

CNN missed thier revenue targets. Trump exceeds his.
Posted by: Bright Pebbles   2018-02-13 05:21  

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