Child Tax Exemptions for Iowa
This dataset tracks child tax exemptions for iowa over time.
Latest Value
768000.00
Year-over-Year Change
-4.54%
Date Range
1/1/1989 - 1/1/2022
Summary
The Child Tax Exemptions for Iowa measures the total number of child tax exemptions claimed by Iowa residents on their federal income tax returns. This metric provides insight into family demographics and economic conditions within the state.
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
The Child Tax Exemptions for Iowa data series tracks the number of child tax exemptions claimed by Iowa residents when filing their federal income taxes. This metric reflects the number of dependent children in Iowa households and is used by policymakers and economists to analyze trends in family structure, income, and spending.
Methodology
The data is collected by the U.S. Internal Revenue Service from individual tax returns filed by Iowa residents.
Historical Context
Child tax exemptions are an important factor considered in discussions of fiscal and social policies targeting families and children in Iowa.
Key Facts
- Child tax exemptions can reduce taxable income for each qualifying dependent child.
- The number of child tax exemptions claimed in Iowa has declined since 2018.
- Iowa has one of the highest rates of child tax exemptions per capita in the Midwest.
FAQs
Q: What does this economic trend measure?
A: The Child Tax Exemptions for Iowa metric tracks the number of child tax exemptions claimed by Iowa residents on their federal income tax returns, reflecting the number of dependent children in Iowa households.
Q: Why is this trend relevant for users or analysts?
A: This data is used by policymakers and economists to analyze trends in family structure, income, and spending within Iowa, which informs discussions of fiscal and social policies targeting families and children.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Internal Revenue Service from individual tax returns filed by Iowa residents.
Q: How is this trend used in economic policy?
A: Child tax exemptions are an important factor considered in discussions of fiscal and social policies targeting families and children in Iowa, such as tax credits, child care subsidies, and education funding.
Q: Are there update delays or limitations?
A: The data is published with a lag due to the time required for tax return processing, and may not capture all exemptions claimed in a given year.
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Citation
U.S. Federal Reserve, Child Tax Exemptions for Iowa (CHEXMIA19A647NCEN), retrieved from FRED.