(April 17): The US Treasury\u2019s cash balance surged on Monday as payments poured in at the government\u2019s mid-April deadline for income taxes.The cash pile rose by US$172 billion (RM824.2 billion) to US$897 billion on Monday, the highest since May 2022, according to data released Tuesday. That\u2019s the largest increase since the 2022 tax collection deadline.Taxpayers are expected to owe Uncle Sam more this year than usual due to higher incomes and a booming stock market. How much Treasury collects could have implications for not only government debt issuance, but also for bank funding as taxes tend to be paid out of accounts at depository institutions.There was also settlement of mid-month coupon auctions that raised about US$52 billion of new cash on net, data show.Treasury collected roughly US$63.5 billion in corporate taxes on Monday, in addition to US$86.6 billion in non-withheld individual electronic payments, and another US$4.66 billion in non-withheld individual \u201cother\u201d payments, or paper filings, the statement shows.By comparison, Wrightson ICAP estimated an US$863 billion cash balance on April 15, with about US$59 billion of corporate taxes collected, US$72 billion via e-filings and another US$6 billion from paper submissions.To date, Treasury has collected roughly US$290 billion in tax-related income this month, according to the latest data. Two years ago, the government collected nearly US$600 billion in tax revenues due to an exuberant stock market and a powerful economic recovery, according to government figures.<\/p>\n","protected":false},"excerpt":{"rendered":"
The US Treasury’s cash balance surged by 2 billion to 7 billion on Monday, the highest since May 2022. Treasury collected roughly .5 billion in corporate taxes, .6 billion in non-withheld individual electronic payments, and .66 billion in non-withheld individual “other” payments. Treasury has collected approximately 0 billion in tax-related income this month.<\/p>\n","protected":false},"author":6,"featured_media":8715,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"Default","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[1902,1512,6987,5697,3399,2369,1381,898,5121,304,415,5001,2294,4773,1823,2828,5115,5614,2173,1827,552,1065,4733,4014,4185,1183,973,380],"class_list":["post-8714","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-other","tag-bank","tag-cash","tag-cash-balance","tag-collection","tag-corporate-taxes","tag-data","tag-deadline","tag-debt","tag-economic-recovery","tag-funding","tag-government","tag-government-debt","tag-income","tag-income-taxes","tag-increase","tag-institutions","tag-recovery","tag-revenues","tag-settlement","tag-statement","tag-stock-market","tag-tax","tag-tax-collection","tag-tax-payments","tag-tax-revenues","tag-taxes","tag-treasury","tag-us"],"acf":{"keyphrase":"","keywords":"","sourceimg":"","country-category":""},"yoast_head":"\n