Fiscal YearÛªs Tax Receipts Near Record
Federal tax collections in the year ended last June 30 fell only slightly short of matching the all-time high despite the recession, the Internal Revenue Service reported yesterday.</br></br>Individual income and em-| ployment taxesÛÓthe latter includes Social Security and unemployment insurance levies ÛÓrose to record highs but did not quite offset a drop of nearly $1 billion in corporation taxes.</br></br>The tax total for .fiscal 1953 from all sources was $79,978,-000,000, compared to the record $80,172,000,000 the year before. But about $10 billion of the 1958 revenues were earmarked for non-budget items, such as the highway and Social Security trust funds, and therefore could not be applied to the Federal budget deficit of $2.8 billion.</br></br>An even steeper 12-billion-dollar deficit has bc-en forecastt for the current fiscal year due to increase defense and antirecession expenditures along with an anticipated decline in revenues applicable to the budget.	;</br></br>The IRS said that revenues in the last fiscal year included income and employment taxes totaling $7,213,000,000 a gain* of about 600 million dol-i lars over the preceding year.j