U.S. federal governmental receipts totaled $5.235 trillion in FY2025. This is the official unified-budget measure closest to annual federal tax revenue, and it includes far more than individual income taxes.
U.S. federal tax revenue was $5.235 trillion in FY2025
The best official annual measure for “U.S. federal government tax revenue” is total federal governmental receipts, also called federal receipts or budget receipts. On that unified-budget basis, the federal government received $5.235 trillion in fiscal year (FY) 2025, up $317 billion from FY2024. That equaled 17.3% of GDP.
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This is broader—and more accurate for a federal-revenue-by-year series—than individual income-tax collections alone. It includes individual and corporate income taxes, payroll and social-insurance taxes, customs duties, excise taxes, estate and gift taxes, and other compulsory government collections. The official long-run series is available in the Office of Management and Budget’s Historical Tables, Table 1.1, which runs from FY1789 through FY2025.
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These are nominal-dollar totals for the federal government’s unified budget. Each observation is a fiscal year, not a calendar year.
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| Fiscal year | Total federal receipts |
|---|---|
| FY2015 | $3.250 trillion |
| FY2016 | $3.268 trillion |
| FY2017 | $3.315 trillion |
| FY2018 | $3.329 trillion |
| FY2019 | $3.462 trillion |
| FY2020 | $3.421 trillion |
| FY2021 | $4.046 trillion |
| FY2022 | $4.897 trillion |
| FY2023 | $4.439 trillion |
| FY2024 | $4.919 trillion |
| FY2025 | $5.235 trillion |
FY2024 receipts were $4.9187 trillion, an increase of $479 billion, or 10.8%, from FY2023. FY2025 receipts then rose another 6.4%. For a chart, spreadsheet, or full historical table, use the current edition of OMB Historical Tables rather than extending this shortened display by copying figures from older publications.
What made up FY2025 federal receipts?
Individual income taxes remained the largest source of federal receipts, followed by social-insurance and retirement receipts—primarily payroll-tax-based collections. The figures below are from Treasury’s final FY2025 Monthly Treasury Statement; shares are calculated from the displayed rounded totals, so components may not add precisely to 100%.
| Receipt source | FY2025 amount | Approximate share |
|---|---|---|
| Individual income taxes | $2.656 trillion | 50.7% |
| Social insurance and retirement receipts | $1.748 trillion | 33.4% |
| Corporation income taxes | $452 billion | 8.6% |
| Customs duties | $195 billion | 3.7% |
| Excise taxes | $106 billion | 2.0% |
| Miscellaneous receipts | $48 billion | 0.9% |
| Estate and gift taxes | $29 billion | 0.6% |
| Total receipts | $5.235 trillion | 100.0% |
The year-over-year changes were not uniform. Individual income-tax receipts rose 9.5% and payroll/social-insurance receipts rose 2.3%. Corporate income-tax receipts fell 14.7%, while customs-duty receipts increased 153%. The Congressional Budget Office’s budget analyses are useful for interpreting these category movements and comparing receipts with GDP.
What “tax revenue” means in this table
In the federal budget process, “revenue” is commonly used as a synonym for governmental receipts. The relevant measure includes money the government collects through its sovereign powers: income and payroll taxes, excise taxes, customs duties, fines, compulsory licenses, Federal Reserve earnings, gifts, and contributions.
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It does not include offsetting collections and offsetting receipts as part of total budget receipts. Those amounts generally arise from business-like transactions or intragovernmental payments and are recorded as offsets to outlays. This distinction matters: adding them to the receipts line would mix two different budget concepts and overstate the official total-receipts measure.
For the same reason, it is inaccurate to describe the $5.235 trillion FY2025 total as “income-tax revenue.” Individual income tax was the largest component, but payroll/social-insurance receipts, corporate taxes, customs duties, excises, and other receipts were all material contributors.
Use fiscal years—not calendar years
Every annual value above is labeled FY for a reason. Since FY1977, the federal fiscal year has run from October 1 through September 30. FY2025 therefore covers October 1, 2024, through September 30, 2025.
Earlier data need extra care. Before FY1977, the federal fiscal year ran from July 1 through June 30. The July–September 1976 period was a separate transition quarter, not an ordinary 12-month fiscal year. Anyone building a very long chart should identify that break explicitly and should not plot the transition quarter as though it were comparable with a full year.
How to get the complete official history
- Open OMB Historical Tables.
- Use Table 1.1—Summary of Receipts, Outlays, and Surpluses or Deficits for the annual total-receipts series from FY1789 onward.
- Use Table 2.1—Receipts by Source when the question is about the composition of revenue; this table begins with FY1934 data.
- For the newest completed year, cross-check the September Monthly Treasury Statement and the annual Combined Statement.
- State the unit used in any chart: nominal dollars, inflation-adjusted dollars, or percentage of GDP. They answer different questions and should never be presented as interchangeable.
OMB also publishes total-government presentations that include state and local government. Do not substitute those for this table: this article covers the United States federal government’s unified budget only.
Why historical figures can change slightly
Use the newest OMB edition when accuracy matters. Historical tables can incorporate corrections to agency reporting and receipt reclassifications, and rounded table components can differ slightly from displayed totals. A historical number copied from an older budget volume may therefore differ modestly from the current official series.
Treasury’s FY2025 Combined Statement includes adjustments reported through October 17, 2025 and notes that figures may be revised as agencies complete reconciliations. Monthly Treasury Statement financial information is unaudited. That is a normal qualification for government financial reporting, not a reason to discard the FY2025 total; it is a reason to identify the source edition and retrieval date in formal research.
Do not treat FY2026 as a completed annual total
FY2026 was still in progress when the latest available FY2025 annual result was established. Treasury had reported $2.483 trillion through FY2026’s second quarter, but an interim figure is not comparable with a completed 12-month fiscal-year total. Wait for the September 30 fiscal-year close and year-end Treasury reporting before placing FY2026 alongside the completed annual series.
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Common comparison mistakes
- Mixing federal and total-government revenue: State and local receipts are outside this series.
- Using only IRS income-tax collections: That omits payroll taxes, corporate taxes, customs duties, excises, and other federal receipts.
- Calling all receipts income taxes: In FY2025, individual income taxes were about half—not all—of total receipts.
- Comparing fiscal years with calendar-year data: A fiscal-year figure straddles two calendar years.
- Comparing nominal dollars across distant decades without context: Inflation and economic growth make GDP shares or constant-dollar series more informative for some questions.
- Confusing receipts with debt or spending: Receipts measure money collected; outlays measure spending; debt is a stock accumulated over time.
Frequently Asked Questions
What is the best measure of U.S. federal tax revenue?
Federal receipts are the unified budget’s broad measure of governmental revenue. They include income taxes, payroll and social-insurance taxes, corporate taxes, customs duties, excises, and other compulsory receipts.
What dates does FY2025 cover?
FY2025 ran from October 1, 2024, through September 30, 2025. Since FY1977, federal fiscal years run from October 1 to September 30.
Where can I download the full federal-receipts history?
Use OMB Historical Tables Table 1.1 for total annual federal receipts from FY1789 through FY2025. Table 2.1 provides receipts by source from FY1934 onward.
Are federal receipts the same as individual income-tax revenue?
No. Total receipts include individual income tax, but also payroll/social-insurance receipts, corporate income tax, customs duties, excise taxes, and other receipts.
The Bottom Line
Bottom line: U.S. federal governmental receipts totaled $5.235 trillion in FY2025. For an authoritative by-year series, use OMB Historical Tables Table 1.1, label figures as fiscal years, and keep federal receipts distinct from state and local revenue, outlays, debt, and tax-only series.
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