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Form 1040EZ CM IMPORTANT ! DIVISION of REVENUE Cnmidof

Form 1040EZ CM IMPORTANT ! DIVISION of REVENUE Cnmidof

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welcome to county office your ultimate guide to local government services and public records let's get started which occurs when the government expenditures exceed government revenues in any given fiscal year when the government spends more than it collects in revenues within a given fiscal year it results in a specific Financial outcome this situation is characterized by the government's need to borrow money to cover the difference between its expenditures and revenues the fiscal balance is the difference between government revenues and expenditures if in a given year a government spends more than it receives in revenues this creates a fiscal deficit in the United States for example if the government spends more than it collects in taxes and other Revenue sources it leads to a budget deficit this was evident in fiscal year 20123 where the federal government spent $613 trillion and raised only 4 $44 trillion resulting in a 1.70 trillion deficit the government's

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