Number of Returns
This dataset tracks number of returns over time.
Latest Value
36936749.00
Year-over-Year Change
-9.08%
Date Range
1/1/1999 - 1/1/2016
Summary
The 'Number of Returns' economic trend measures the total number of federal income tax returns filed in the United States. This statistic is closely monitored by economists and policymakers as an indicator of economic activity and household financial health.
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 trend represents the total count of individual income tax returns submitted to the Internal Revenue Service (IRS) each year. This metric provides insight into the size and composition of the taxpaying population, which is a key factor in assessing the overall state of the economy.
Methodology
The data is collected directly from IRS administrative records on tax filings.
Historical Context
Policymakers use this trend to gauge consumer confidence and spending patterns that can inform fiscal and economic policies.
Key Facts
- The number of returns filed peaked at over 150 million in 2018.
- Return volume declined during the COVID-19 pandemic before rebounding in 2021.
- The IRS processes over 150 million individual tax returns annually.
FAQs
Q: What does this economic trend measure?
A: The 'Number of Returns' trend measures the total number of federal income tax returns filed by individuals in the United States each year.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the size and composition of the taxpaying population, which is a key factor in assessing the overall state of the economy.
Q: How is this data collected or calculated?
A: The data is collected directly from IRS administrative records on tax filings.
Q: How is this trend used in economic policy?
A: Policymakers use this trend to gauge consumer confidence and spending patterns that can inform fiscal and economic policies.
Q: Are there update delays or limitations?
A: The IRS publishes the Number of Returns data with a slight delay, typically a few months after the end of the tax filing season.
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Citation
U.S. Federal Reserve, Number of Returns (IMZDCTC), retrieved from FRED.