Poverty Tax Exemptions for Iowa
This dataset tracks poverty tax exemptions for iowa over time.
Latest Value
343000.00
Year-over-Year Change
-8.07%
Date Range
1/1/1989 - 1/1/2022
Summary
The Poverty Tax Exemptions for Iowa measures the number of individuals claimed as tax exemptions due to low income in the state. This data provides insight into the level of poverty and need for social assistance programs.
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 Poverty Tax Exemptions for Iowa series tracks the number of individuals reported on federal tax returns as tax exemptions due to having income below the poverty line. This metric is used by economists and policymakers to assess the prevalence of poverty and evaluate the effectiveness of anti-poverty initiatives in the state.
Methodology
The data is collected from individual tax return filings with the Internal Revenue Service.
Historical Context
This trend helps inform decisions around state-level social welfare policies and resource allocation.
Key Facts
- Iowa had over 570,000 poverty tax exemptions claimed in 2019.
- Poverty exemptions made up 18% of all tax exemptions in Iowa that year.
- The poverty exemption rate in Iowa has remained relatively stable over the past decade.
FAQs
Q: What does this economic trend measure?
A: The Poverty Tax Exemptions for Iowa metric tracks the number of individuals reported on federal tax returns as tax exemptions due to having income below the poverty line in the state.
Q: Why is this trend relevant for users or analysts?
A: This data provides important insights into the prevalence of poverty in Iowa and can help inform decisions around social welfare policies and resource allocation.
Q: How is this data collected or calculated?
A: The data is collected from individual tax return filings with the Internal Revenue Service.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this metric to assess the effectiveness of anti-poverty initiatives and make informed decisions around state-level social welfare programs.
Q: Are there update delays or limitations?
A: The data is subject to the typical update schedule and limitations of tax return filings with the IRS.
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Citation
U.S. Federal Reserve, Poverty Tax Exemptions for Iowa (PEXMIA19A647NCEN), retrieved from FRED.