Number of Returns
This dataset tracks number of returns over time.
Latest Value
602988.00
Year-over-Year Change
18.93%
Date Range
1/1/1999 - 1/1/2016
Summary
The 'Number of Returns' trend measures the total number of individual income tax returns filed with the Internal Revenue Service (IRS) each year. This metric is closely watched by economists and policymakers as an indicator of economic activity and taxpayer behavior.
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 Number of Returns series tracks the total volume of individual income tax returns submitted to the IRS. This data provides insight into the size and composition of the U.S. taxpayer population, which is a key factor for revenue forecasting, tax policy analysis, and understanding economic trends.
Methodology
The data is collected directly from IRS administrative records.
Historical Context
Policymakers and analysts use this metric to gauge the health of the broader economy and inform decisions around tax policy.
Key Facts
- The number of returns filed peaked at over 150 million in 2018.
- Returns declined during the COVID-19 pandemic but have since rebounded.
- The data is published annually with a 1-year lag.
FAQs
Q: What does this economic trend measure?
A: The 'Number of Returns' trend measures the total volume of individual income tax returns filed with the IRS each year.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the size and composition of the U.S. taxpayer population, which is a key factor for revenue forecasting, tax policy analysis, and understanding broader economic trends.
Q: How is this data collected or calculated?
A: The data is collected directly from IRS administrative records.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to gauge the health of the broader economy and inform decisions around tax policy.
Q: Are there update delays or limitations?
A: The data is published annually with a 1-year lag.
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Citation
U.S. Federal Reserve, Number of Returns (ESTNINC), retrieved from FRED.