Shocking Reveal: $5 Trillion Paid by Americans to IRS in 2022 – Asking ChatGTP to Define...

The Internal Revenue Service (IRS) achieved a staggering $5 trillion in tax collections last year, setting a new record.

Under President Joe Biden's administration, the tax revenue generated from Americans has surged, as evidenced by an in-depth analysis of IRS data.

In comparison to President Donald Trump's term, tax enforcement has seen a significant increase during Biden's presidency.

The IRS' recently published Data Book reveals that for the fiscal year 2022 (from October 1, 2021, to September 30, 2022), a total of $4.9 trillion in taxes were collected.

Simultaneously, the IRS issued approximately $642 billion in refunds during the same period, resulting in a net tax collection of around $4.26 trillion.

In contrast, during the fiscal year 2020, Trump's final year in office, the IRS' gross tax collections amounted to $3.5 trillion.

Taking into account the nearly $736 billion in refunds, the net total taxes collected during Trump's last year were approximately $2.76 trillion, or around 35% lower than in Biden's second year in office.

During Biden's first year in office, the fiscal year 2021, the IRS' gross tax collections reached $4.1 trillion.

Subtracting the $1.1 trillion in refunds, the net total stood at $3 trillion, marking an 8% increase compared to Trump's final year in the White House.

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