IRS Data Book FY2024

Understanding the IRS Data Book: Key Insights for Taxpayers FY-2024

Introduction

The IRS Data Book provides an in-depth look at the IRS’s operations over the fiscal year. This annual publication offers valuable insights into the agency’s performance, including data on tax returns filed, revenue collected, enforcement activities, and taxpayer assistance. This report describes activities conducted by the Internal Revenue Service during Fiscal Year 2023 (October 1, 2022, through September 30, 2023). It provides information on returns filed and taxes collected, enforcement, taxpayer assistance, the IRS budget and workforce, and other selected activities.

Key Highlights

• Returns Filed: In Fiscal Year (FY) 2023, the IRS processed nearly 271.5 million federal tax returns and supplemental documents.
• Revenue Collected: The IRS collected approximately $4.7 trillion in gross taxes, with individual income tax payments totaling almost $2.6 trillion.
• Enforcement: The IRS maintains a strong enforcement presence, conducting audits and investigations to ensure compliance.
• Taxpayer Assistance: Significant efforts have been made to improve taxpayer services, including enhancing online tools and increasing the number of in-person assistance centers.
• Total Returns Filed: The IRS processed nearly 271.5 million federal tax returns and supplemental documents in FY 2023.
• Electronic Filing: Over 213.3 million returns and forms were filed electronically, representing 78.6% of all filings.
• Refunds Issued: The IRS issued 125.5 million refunds, totaling about $659.1 billion.
• Top States for Tax Collection: California, Texas, and New York led in total tax collection.

For more details, check out the IRS Data Book.

How This Data Can Help You

Understanding these statistics can help taxpayers anticipate trends, prepare for filing, and comprehend the scope of the IRS’s activities. For instance, knowing the volume of returns processed can underscore the importance of filing accurately and on time to avoid delays.

We Are Here To Help

If you have any questions or need personalized tax advice, feel free to contact us. We’re here to help you navigate your tax obligations with confidence. With offices in Virginia, Texas, Washington, and California we are positioned to help with any tax or business needs for the upcoming Tax Season.