2007 IRS Data Book

The IRS recently released its 2007 Data Book describing activities conducted during Fiscal Year 2007 (FY 2007) from October 1, 2006, through September 30, 2007. The Data Book contains information about returns filed, taxes collected, enforcement, taxpayer assistance, and the IRS budget and workforce. During FY 2007, the IRS collected almost $2.4 trillion in taxes (net of refunds) and processed over 235 million tax returns. Over 114 million individual income tax return filers received refunds totaling $248.6 billion. The IRS spent an average of 40 cents to collect each $100 of tax revenue, which was the lowest in seven years. The IRS examined nearly 1.4 million individual income tax returns in FY 2007.