Individual Income Tax Filing: Adjusted Gross Income (AGI): Farm Net Income
Number of Returns
FMNINC • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
481,285.00
Year-over-Year Change
-18.26%
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) in the United States. This metric is closely watched by economists and policymakers to gauge taxpayer behavior 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
The Number of Returns is a key indicator of the overall size and composition of the U.S. individual income tax base. Changes in the number of returns can reflect shifts in employment, population, and economic conditions that impact individual earnings and tax filings.
Methodology
The data is collected annually by the IRS through the processing of individual income tax returns.
Historical Context
The Number of Returns trend is used to inform tax policy, revenue forecasting, and economic analysis by government, research, and financial institutions.
Key Facts
- The Number of Returns reached a peak of over 150 million in 2018.
- Returns declined during the 2008-2009 recession, reflecting weaker economic conditions.
- The metric is released annually by the IRS, typically in the fall of the following year.
FAQs
Q: What does this economic trend measure?
A: The Number of Returns trend measures the total number of individual income tax returns filed with the IRS in the United States each year.
Q: Why is this trend relevant for users or analysts?
A: Changes in the number of tax returns can provide insights into shifts in employment, population, and economic conditions that impact individual earnings and tax filings.
Q: How is this data collected or calculated?
A: The data is collected annually by the IRS through the processing of individual income tax returns.
Q: How is this trend used in economic policy?
A: The Number of Returns trend is used to inform tax policy, revenue forecasting, and economic analysis by government, research, and financial institutions.
Q: Are there update delays or limitations?
A: The metric is released annually by the IRS, typically in the fall of the following year, so there can be a delay in the most recent data.
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Citation
U.S. Federal Reserve, Number of Returns (FMNINC), retrieved from FRED.