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| (In billions of dollars) | Federal Tax Revenue Collections |
Tax Year to Which Collections Relate |
||||
|---|---|---|---|---|---|---|
2011 |
2010 |
2009 |
Prior Years |
|||
| Individual income and tax withholdings |
2,102.0 | 1,357.0 | 703.9 | 19.0 | 22.1 | |
| Corporation income taxes | 242.8 | 165.7 | 62.6 | 1.9 | 12.6 | |
| Unemployment taxes | 56.2 | 30.4 | 14.3 | 11.4 | 0.1 | |
| Excise taxes | 75.7 | 56.3 | 19.0 | 0.1 | 0.3 | |
| Estate and gift taxes | 9.1 | - | 6.4 | 0.7 | 2.0 | |
| Railroad retirement taxes | 4.7 | 3.5 | 1.2 | - | - | |
| Fines, penalties, interest, and other revenue |
5.4 | 5.2 | 0.1 | 0.1 | - | |
| Customs duties | 29.9 | 29.9 | - | - | - | |
| Subtotal | 2,525.8 | 1,648.0 | 807.5 | 33.2 | 37.1 | |
| Less: amounts collected for non-Federal entities |
(0.9) | |||||
| Total | 2,524.9 | |||||
Treasury is the Government’s principal revenue-collecting agency. Collections of individual income and tax withholdings include FICA/SECA and individual income taxes. These taxes are characterized as non-exchange revenue.
Excise taxes consist of taxes collected for various items, such as airline tickets, gasoline products, distilled spirits and imported liquor, tobacco, firearms, and others. These are also characterized as non-exchange revenue.
Tax Year to Which Refunds Relate |
|||||
|---|---|---|---|---|---|
| (In billions of dollars) | Refunds Disbursed |
2011 |
2010 |
2009 |
Prior Years |
| Individual income and tax withholdings |
344.4 | 1.1 | 302.8 | 26.5 | 14.0 |
| Corporation income taxes | 67.8 | 6.3 | 16.6 | 6.5 | 38.4 |
| Unemployment taxes | 0.1 | - | 0.1 | - | - |
| Excise taxes | 2.2 | 0.8 | 1.0 | 0.2 | 0.2 |
| Estate and gift taxes | 1.8 | - | - | 0.4 | 1.4 |
| Customs duties | 1.3 | 0.6 | 0.3 | 0.1 | 0.3 |
| Total | 417.6 | 8.8 | 320.8 | 33.7 | 54.3 |
| (In billions of dollars) | 2011 |
2010 |
|---|---|---|
| Consolidated revenue per the Statements of Operations and Changes in Net Position. |
2,363.8 | 2,216.5 |
| Tax refunds | 417.6 | 468.9 |
| First-time Homebuyers Tax Credit | (2.2) | (8.7) |
| Making work pay credit | (13.9) | (13.7) |
| Earned income tax credit and child tax credit imputed revenue | (78.3) | (77.4) |
| Other tax credits | (13.9) | (10.5) |
| Federal Reserve earnings | (82.5) | (75.8) |
| Nontax-related fines and penalties reported by agencies | (49.5) | (44.0) |
| Nontax-related earned revenue | (16.2) | (15.9) |
| Collections of Federal tax revenue | 2,524.9 | 2,439.5 |
Consolidated revenue in the Statements of Operations and Changes in Net Position is presented on a modified cash basis, is net of tax refunds, and includes other nontax related revenue. First-time Homebuyer Credit, Earned Income Tax Credit and Child Tax Credit, Making work pay credit, and Other tax credits amounts (unaudited) are included in gross cost in the Statements of Net Cost as a component of Treasury. Collections of Federal tax revenue are reported on a gross cash basis. The table above reconciles total revenue to Federal tax collections.
| (In billions of dollars) | Federal Tax Revenue Collections |
Tax Year to Which Collections Relate | |||
|---|---|---|---|---|---|
| 2010 | 2009 | 2008 | Prior Years |
||
| Individual income and tax withholdings |
1,988.8 | 1,315.9 | 635.9 | 20.2 | 16.8 |
| Corporation income taxes | 277.9 | 188.5 | 75.5 | 1.6 | 12.3 |
| Unemployment taxes | 45.3 | 24.9 | 11.4 | 8.9 | 0.1 |
| Excise taxes | 73.8 | 54.9 | 18.6 | 0.1 | 0.2 |
| Estate and gift taxes | 19.8 | - | 7.9 | 0.9 | 11.0 |
| Railroad retirement taxes | 4.6 | 3.5 | 1.1 | - | - |
| Fines, penalties, interest, and other revenue |
3.8 | 3.6 | 0.1 | 0.1 | - |
| Customs duties | 26.4 | 26.4 | - | - | - |
| Subtotal | 2,440.4 | 1,617.7 | 750.5 | 31.8 | 40.4 |
| Less: amounts collected for non-Federal entities | (0.9) | ||||
| Total | 2,439.5 | ||||
| Tax Year to Which Refunds Relate | |||||
|---|---|---|---|---|---|
| (In billions of dollars) | Refunds Disbursed | 2010 | 2009 | 2008 | Prior Years |
| Individual income and tax withholdings |
366.1 | 1.3 | 312.2 | 35.6 | 17.0 |
| Corporation income taxes | 98.3 | 2.7 | 16.2 | 16.8 | 62.6 |
| Unemployment taxes | 0.1 | - | 0.1 | - | - |
| Excise taxes | 2.2 | 0.6 | 0.9 | 0.3 | 0.4 |
| Estate and gift taxes | 0.9 | - | 0.2 | 0.4 | 0.3 |
| Customs duties | 1.3 | 0.7 | 0.2 | 0.1 | 0.3 |
| Total | 468.9 | 5.3 | 329.8 | 53.2 | 80.6 |
