The federal government collected approximately $740 billion in taxes in the first quarter of fiscal year 2017, but the federal government still ran a $208 billion deficit during that time, according to the latest monthly Treasury Department statement.
Treasury receipts include tax revenue from individual income taxes, corporate income taxes, social insurance and retirement taxes, unemployment insurance taxes, excise taxes, estate and gift taxes, customs duties, and other miscellaneous items.
In the first quarter of 2017, which included the months of October, November and December, the amount of taxes collected by the federal government totaled $740,771,000,000. The 2017 fiscal year begins on Oct. 1, 2016, and runs through Sept. 30, 2017.
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