Individual Income Tax Filing: Adjusted Gross Income (AGI)
AGICM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
10,225,936,977.00
Year-over-Year Change
50.63%
Date Range
1/1/1999 - 1/1/2016
Summary
The 'Individual Income Tax Filing: Adjusted Gross Income (AGI)' trend measures the total adjusted gross income reported on individual income tax returns filed with the Internal Revenue Service (IRS). This metric is a key indicator of household wealth and economic activity.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
AGI represents the total income of U.S. taxpayers after allowable deductions, providing insight into the overall financial status of individuals and households. Economists and policymakers use this data to analyze income distribution, tax policy, and consumer spending patterns.
Methodology
The data is collected through the processing of individual income tax returns filed with the IRS.
Historical Context
AGI data is widely used to inform economic and tax policy decisions at the federal, state, and local levels.
Key Facts
- AGI data is reported annually by the IRS.
- AGI is a key factor in determining individual income tax liability.
- Aggregate AGI trends are used to assess the overall health of the economy.
FAQs
Q: What does this economic trend measure?
A: The 'Individual Income Tax Filing: Adjusted Gross Income (AGI)' trend measures the total adjusted gross income reported on individual income tax returns filed with the IRS.
Q: Why is this trend relevant for users or analysts?
A: AGI data provides important insights into household wealth, income distribution, and consumer spending patterns, which are vital for economic analysis and policy decisions.
Q: How is this data collected or calculated?
A: The data is collected through the processing of individual income tax returns filed with the IRS.
Q: How is this trend used in economic policy?
A: AGI data is widely used to inform economic and tax policy decisions at the federal, state, and local levels.
Q: Are there update delays or limitations?
A: AGI data is reported annually by the IRS, with a typical release schedule and any potential delays or limitations.
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Citation
U.S. Federal Reserve, Individual Income Tax Filing: Adjusted Gross Income (AGI) (AGICM), retrieved from FRED.