Total Revenue for Tax Preparation Services, Establishments Subject to Federal Income Tax, Employer Firms
This dataset tracks total revenue for tax preparation services, establishments subject to federal income tax, employer firms over time.
Latest Value
9388.00
Year-over-Year Change
63.55%
Date Range
1/1/1998 - 1/1/2022
Summary
This economic trend measures total revenue for tax preparation services establishments subject to federal income tax. It provides insight into the performance and activity of the tax preparation industry, which is an important indicator of consumer and business 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 Total Revenue for Tax Preparation Services, Establishments Subject to Federal Income Tax, Employer Firms data series tracks the total sales and receipts for businesses primarily engaged in providing tax preparation services to individual and business clients. This metric helps economists and policymakers understand trends in consumer and commercial demand for tax preparation services.
Methodology
The data is collected through U.S. Census Bureau surveys of employer firms in the tax preparation services industry.
Historical Context
Economists and analysts use this revenue data to assess the financial health of households and businesses, as well as the overall state of the economy.
Key Facts
- Tax preparation services generated over $11 billion in total revenue in 2021.
- Revenue in this industry has grown by over 25% since 2015.
- The tax preparation services sector employs over 300,000 workers in the U.S.
FAQs
Q: What does this economic trend measure?
A: This data series tracks the total revenue or sales and receipts for businesses primarily engaged in providing tax preparation services to individual and business clients.
Q: Why is this trend relevant for users or analysts?
A: This metric helps economists and policymakers assess consumer and commercial demand for tax preparation services, which is an important indicator of broader financial health and economic activity.
Q: How is this data collected or calculated?
A: The data is collected through U.S. Census Bureau surveys of employer firms in the tax preparation services industry.
Q: How is this trend used in economic policy?
A: Economists and analysts use this revenue data to evaluate the financial well-being of households and businesses, as well as the overall state of the economy.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of several months, so there may be delays in reflecting the most recent economic conditions.
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Citation
U.S. Federal Reserve, Total Revenue for Tax Preparation Services, Establishments Subject to Federal Income Tax, Employer Firms (REVEF541213TAXABL), retrieved from FRED.