Feds have record April for revenue

The Federal government collected more tax and other revenue in April than in any other month on record, the Treasury department reported Friday.

April, which is typically the highest revenue month in any year, saw $407 billion flow into the government’s coffers. The closest figure previously recorded was April 2008 when the government collected $403 billion. 

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The recession and payroll tax holidays led to $318 billion in April 2012 and $245 billion in April 2010. 

A Treasury official confirmed that April was the best month for revenue in nominal dollar terms on record. 

In January, the White House and Congress allowed taxes to rise on individual incomes above $400,000 and for a two-percentage-point payroll tax holiday to expire.

Because of the strong revenue, the government recorded a budget surplus of $113 billion in April, the first month without a deficit since last April when there was a $59 billion surplus.

The April total does not reflect an anticipated payment from mortgage giant Fannie Mae of $59 billion which is expected in late June.