Federal Tax Withholding Growth Slowed in April
Posted on April 30, 2025 With the IRS’s counting of payments with income tax return filings still in the final stages, we turn our attention to federal income and payroll tax withholding. We estimate that year-over-year growth in such tax withholding slowed significantly in April, to 4.6 percent from an average of 7.3 percent over […]
High Growth in Recent Days of Payments with Income Tax Return Filings, Partway Through the Counting, Has Boosted Overall Revenue Growth for the Fiscal Year
Posted on April 18, 2025 On the taxtracking.com website, we are tracking total federal revenues on a daily basis through fiscal year 2025 (which began on October 1, 2024). We estimate that federal revenues for the full fiscal year to date (through April 16) are running about 5 percent above the amounts at the same […]
We See No Signs of Economic Slowdown from Tax Withholding Data Through March
Posted on April 3, 2025 U.S. federal tax withholding in March continued to grow at a solid rate. We estimate that federal tax withholding–the combined amount of income and payroll taxes withheld from employees’ paychecks and remitted by firms as quickly as the next day to the U.S. Treasury Department–grew by 7.5 percent in March […]
Tracking Total Federal Revenues: Up By About 4 Percent Through The First Half of Fiscal Year 2025, With Higher Growth Expected in the Second Half
Posted on April 2, 2025 We have reached the halfway point in the 2025 federal fiscal year, and we are coming up closer to the April 15 income tax filing deadline. Through the end of March, we estimate that total federal revenues were about 4 percent higher than through the same point in fiscal year […]