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Accountancy Slice
North America
The IRS has released its 2025 Data Book, highlighting a year of strong tax collections, taxpayer assistance, and enforcement activity. The agency collected $2.9tn in individual income tax withholding and payments, $486.4bn in business income taxes, and issued 116.9m refunds totaling $516.4bn. The report noted that about 45% of individual tax returns filed during the 2026 filing season claimed at least one deduction introduced under the Working Families Tax Cuts Act, including deductions for tips, overtime pay, car loan interest, and seniors, with average refunds on those returns exceeding $3,200. The IRS completed nearly 498,000 audits that resulted in $26.8bn in recommended additional taxes, conducted 2,850 criminal investigations, and collected $73.1bn in unpaid tax assessments. The agency also assisted more than 50m taxpayers, processed over 224m electronic filings, and operated with a budget of $19bn and a workforce of more than 95,000 full-time equivalent positions.
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