The federal government collected $414.23 billion in revenue in April, the largest total ever for a single month, and also set a record for the most revenue collected in the first seven months of a fiscal year.
In fiscal 2014, which began on Oct. 1, federal revenue so far has totaled $1.735 trillion — yet the government still ran a deficit of $306.4 billion over the seven-month period, according to the Monthly Treasury Statement of Receipts and Outlays of the United States Government.
In April, the government usually sees peak tax revenues for the year due to the mid-month filing deadline for income tax returns. And although the government took in $414.23 billion last month, it spent $307.38 billion — meaning there was a surplus of more than $106.8 billion.
In fiscal 2013, the government also ran a surplus in April, but it returned to the red the following month, running a deficit of $138.7 billion in May.