Poverty Tax Exemptions Under Age 65 for District of Columbia
This dataset tracks poverty tax exemptions under age 65 for district of columbia over time.
Latest Value
73600.00
Year-over-Year Change
1.64%
Date Range
1/1/1989 - 1/1/2022
Summary
This economic trend measures the number of poverty tax exemptions claimed by individuals under age 65 in the District of Columbia. It provides insight into the prevalence of low-income households in the region.
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 exemption allows individuals with incomes below a certain threshold to claim an additional deduction on their tax returns. Tracking this metric helps economists and policymakers understand the social and economic conditions in the District of Columbia.
Methodology
The data is collected through tax return filings with the Internal Revenue Service.
Historical Context
This trend is used to inform public assistance programs and socioeconomic policies in the District of Columbia.
Key Facts
- The data is reported annually.
- Exemptions have declined over the past decade.
- The District of Columbia has a higher poverty rate than the national average.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of poverty tax exemptions claimed by individuals under age 65 in the District of Columbia.
Q: Why is this trend relevant for users or analysts?
A: Tracking this metric helps economists and policymakers understand the prevalence of low-income households in the District of Columbia, which informs social and economic policies.
Q: How is this data collected or calculated?
A: The data is collected through tax return filings with the Internal Revenue Service.
Q: How is this trend used in economic policy?
A: This trend is used to inform public assistance programs and socioeconomic policies in the District of Columbia.
Q: Are there update delays or limitations?
A: The data is reported annually, so there may be a delay in the most recent information.
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Citation
U.S. Federal Reserve, Poverty Tax Exemptions Under Age 65 for District of Columbia (PLT65EXMDC11A647NCEN), retrieved from FRED.