Number of Returns
This dataset tracks number of returns over time.
Latest Value
5650286.00
Year-over-Year Change
-51.35%
Date Range
1/1/1999 - 1/1/2016
Summary
The 'Number of Returns' economic trend measures the total number of individual income tax returns filed with the U.S. Internal Revenue Service (IRS) each year. This data provides insights into broader economic activity and taxpayer behavior.
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' tracks the total volume of individual income tax returns filed annually in the United States. This metric is a key indicator of household economic participation and can be used to analyze trends in tax compliance, income levels, and the overall size of the taxpaying population.
Methodology
The data is collected and reported annually by the IRS based on individual income tax return filings.
Historical Context
Policymakers and economists monitor the 'Number of Returns' to gauge the health of the broader economy and assess the impact of tax policies.
Key Facts
- The number of returns filed peaked at over 150 million in 2018.
- The 'Number of Returns' declined during the 2008-2009 recession but has since recovered.
- This metric helps inform policy decisions related to taxation, social programs, and economic stimulus.
FAQs
Q: What does this economic trend measure?
A: The 'Number of Returns' measures the total volume of individual income tax returns filed annually with the U.S. Internal Revenue Service (IRS).
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into broader economic activity, tax compliance, and the size of the taxpaying population, which is relevant for policymakers and economists.
Q: How is this data collected or calculated?
A: The data is collected and reported annually by the IRS based on individual income tax return filings.
Q: How is this trend used in economic policy?
A: Policymakers and economists monitor the 'Number of Returns' to gauge the health of the broader economy and assess the impact of tax policies.
Q: Are there update delays or limitations?
A: The data is published annually, so there may be a delay of several months between the end of the tax year and the release of the updated statistics.
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Citation
U.S. Federal Reserve, Number of Returns (RTNPECFC), retrieved from FRED.