Individual Taxes Set 1-Day Record When Govt. Collects Nearly $49 Billion

Wednesday, April 25th 2007, 4:05 pm
By: News On 6

WASHINGTON (AP) _ The government set a one-day record for collections of personal income taxes, taking in $48.7 billion, the Treasury Department announced Wednesday.

The record was set on Tuesday and represented in large part the amount individuals paid to cover taxes owed on their 2006 returns, which this year had to be filed by April 17.

The old record for a single day of individual tax collections was $36.4 billion set on April 25 of last year.

The gusher of tax receipts continues a trend of recent years in which a strong economy has pushed both individual and corporate taxes to record levels.