U.S Individual Income Tax: Personal Exemptions: Single Persons
This dataset tracks u.s individual income tax: personal exemptions: single persons over time.
Latest Value
4050.00
Year-over-Year Change
26.56%
Date Range
1/1/1913 - 1/1/2017
Summary
The U.S. Individual Income Tax: Personal Exemptions: Single Persons series tracks the dollar value of the personal income tax exemption for single taxpayers in the United States. This metric is critical for understanding the tax burden on individual incomes.
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 personal exemption represents a deduction from taxable income that reduces the amount of income subject to federal income tax. Analyzing changes in this exemption level provides insight into U.S. tax policy and its impacts on personal finances.
Methodology
The data is collected and published by the U.S. Internal Revenue Service.
Historical Context
This economic indicator is closely monitored by policymakers, tax analysts, and individual taxpayers.
Key Facts
- The personal exemption for single filers was $4,050 in 2017.
- The exemption amount has remained unchanged since 2013.
- Changes to the personal exemption impact taxable income and tax liability for individual taxpayers.
FAQs
Q: What does this economic trend measure?
A: The U.S. Individual Income Tax: Personal Exemptions: Single Persons series tracks the dollar value of the personal income tax exemption for single taxpayers in the United States.
Q: Why is this trend relevant for users or analysts?
A: The personal exemption level is a critical factor in determining individual tax burdens and is closely monitored by policymakers, tax analysts, and individual taxpayers.
Q: How is this data collected or calculated?
A: The data is collected and published by the U.S. Internal Revenue Service.
Q: How is this trend used in economic policy?
A: Changes to the personal exemption amount are a key lever in U.S. tax policy and can significantly impact the finances of individual taxpayers.
Q: Are there update delays or limitations?
A: The data is published regularly by the IRS, but there may be some delay between the end of the tax year and the release of the final figures.
Related News
U.S. Natural Gas Prices Rise Due to Warmer Weather Forecasts
U.S. Natural Gas Prices Surge: Economic and Weather Patterns at Play The current surge in U.S. natural gas prices is reshaping the energy market landscape. Recent weather forecasts, combined with robust economic patterns, are pushing these prices skyward, affecting individuals and industries alike. This uptrend intertwines with broader energy market dynamics, such as climate patterns and economic impacts. Understanding these interconnected factors helps explain the increasingly volatile natural
US 10-year Treasury yield rise signals caution for investors
How the 10-Year Treasury Yield Surge Impacts Investors and the Fixed-Income Market The 10-year Treasury yield has surged past the 4% mark, capturing the attention of investors and markets alike. This rise is not just a random development; it signals broader shifts in the economic landscape, influencing everything from bond markets to investor strategies. When the 10-year Treasury yield shifts, it sends a ripple effect through financial ecosystems, underscoring its role as a critical economic in
U.S. Stock Futures Stagnant Despite Positive Jobless Claims and GDP
Why US Stock Futures Remain Stagnant Despite Positive Economic Indicators The current investment landscape is puzzling for many as US stock futures struggle to show a definite trend despite favorable economic signals. These signals, such as jobless claims and Q2 GDP figures, suggest a healthy economy. Given the roles of the stock market and the Federal Reserve's decisions on rate hikes, it is surprising to witness this stagnation. Inflation trends and the Fed's signals about future policies pla
U.S. Home Sales Decline In August Due To High Prices
August 2023 U.S. Home Sales Decline Amid Rising Mortgage Rates and High Prices In August 2023, U.S. home sales experienced a notable decline, highlighting a distressing trend in the housing market. Homeownership is more costly these days. High home prices and soaring 30 year mortgage rates, combined with limited housing inventory, pose significant challenges for potential buyers and cast a shadow on economic recovery efforts. Many potential homebuyers find themselves increasingly priced out of
U.S. jobless claims decline to lowest level since mid-July
U.S. Jobless Claims Drop: A Positive Sign for Economic Growth The U.S. economy is signaling a positive turn as the initial jobless claims have dropped to their lowest level since mid-July, suggesting a more resilient labor market. This decline in jobless claims is not just a number; it reflects crucial dynamics in the U.S. economy and employment landscape. As people file fewer claims for unemployment benefits, it suggests a strengthening employment market and a recovering economy. Also, the cur
U.S. Trade Deficit Decreases As Businesses Anticipate Tariff Hikes
U.S. Trade Deficit Reaches Two-Year Low Amid Anticipated Tariff Hikes The recent announcement that the U.S. trade deficit has reached a two-year low signals significant developments for the national economy. This change may, in part, be influenced by the anticipation of tariff hikes, which are affecting trade patterns. As this event unfolds, it has implications for the U.S. GDP, underscoring the importance of reducing the trade deficit. Trade tensions have long shaped the global economic landsc
Related Trends
Consumer Price Index for All Urban Consumers: All Items in U.S. City Average
CPIAUCNS
Capacity Utilization: Total Index
TCU
Commercial and Industrial Loans, All Commercial Banks
TOTCI
Share of Foreign Born in Home Owners Loan Corporation (HOLC) Neighborhood A
RLMSHFBHOLCNA
Home Ownership Rate in Home Owners Loan Corporation (HOLC) Neighborhood C
RLMSHHORHOLCNC
Share of Foreign Born in Home Owners Loan Corporation (HOLC) Neighborhood C
RLMSHFBHOLCNC
Citation
U.S. Federal Reserve, U.S Individual Income Tax: Personal Exemptions: Single Persons (IITPESP), retrieved from FRED.