The federal government collected a record $1,683,537,000 in individual income taxes in fiscal 2018 (October 2017 through September 2018), according to the Monthly Treasury Statement released today.

However, the federal government also ran a deficit of $778,996,000,000 during the fiscal year, according to the statement.

(As has previously reported, the debt of the federal government–as opposed to the deficit–increased by $1,271,158,167,126.72 in fiscal 2018, according to official data published by the Treasury.)

The previous record for individual income tax collections in a fiscal year was in fiscal 2015, when the Treasury collected $1,634,657,240,000 in individual income taxes (in constant September 2018 dollars).

As heard on The Hagmann Report