After all the hand-wringing about the Tax Gap, wealthy tax evaders and Crpto cheats the US Treasury collected a record $283,927,000,000 in total taxes in October, which was the first month of fiscal 2022. However, Federal spending hit $448,983,000,000 in October, which was the second highest ever for the first month of a fiscal year.
Do these numbers demonstrate a need form more money, or a need to cut spending? That is ALWAYS the battel question.
Attorney Steven A. Leahy reviews the latest tax numbers.
Steven A. Leahy is a tax attorney in Illinois. He was the host of the long-running popular Radio Show “The IRS Radio Hour” heard every Sunday evening on AM 560 The Answer. Attorney Leahy is also the author of the book “Deal With Your IRS Problems Today!” You can get a FREE copy of this important book at FreeIRSBook.com. Or Call 24/7 (312)664-6649