As required by law, in every Form 1040 instruction booklet there's a section that shows where our federal government gets its money and where it is spent. As taxpayers it makes sense to know this information. Here is the data for the government's fiscal year ending September 30, 2023, as reported by the IRS in the 2024 instruction booklet for Form 1040:

BOI e-Filing Alert: A federal court order issued on February 19, 2025, has reaffirmed that businesses must file a Beneficial Ownership Information (BOI) report. The Corporate Transparency Act (CTA) and its BOI reporting requirement have been deemed unconstitutional in court rulings, but the legal battles continue. This law has been in and out of court multiple times, with decisions reversing course along the way. It is our opinion that these requirements will change again, but at this time, businesses must comply with the filing requirement to avoid penalties.

The IRS has issued 282 pages of proposed digital asset reporting regulations, along with official IRS explanation of the provisions, which cover a range of digital asset issues where there have been questions. Issues addressed include expansive definitions of brokers and a requirement that proceeds from the sale of digital assets be reported to the IRS starting in 2026, on new Form 1099-DA for transactions on, or after January 1, 2025.