Individual Income Tax Filing: Returns of Married Persons Filing Separately
RTSMPFS • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3,068,132.00
Year-over-Year Change
25.06%
Date Range
1/1/1999 - 1/1/2016
Summary
The 'Individual Income Tax Filing: Returns of Married Persons Filing Separately' trend measures the number of tax returns filed by married individuals who choose to file their taxes separately from their spouse. This metric is important for economists and policymakers to understand household-level tax behaviors and the implications for tax revenue.
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
This economic trend represents the total number of U.S. income tax returns filed by married couples who opt to file their taxes independently rather than jointly. The data provides insight into household-level tax filing decisions and can inform policy discussions around tax incentives and the distribution of the tax burden.
Methodology
The data is collected and reported annually by the U.S. Internal Revenue Service (IRS) based on processed tax returns.
Historical Context
Policymakers and economists analyze this trend to assess the prevalence of separate tax filing among married couples and its potential impact on tax revenue and policy.
Key Facts
- Married filing separately accounted for 3.1% of all U.S. individual income tax returns in 2020.
- The number of married persons filing separately has declined by 23% since 2010.
- Separate filing can provide tax advantages for some high-income households.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of U.S. individual income tax returns filed by married couples who choose to file their taxes separately rather than jointly.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into household-level tax filing behaviors and can inform discussions around tax policy and its impact on married couples.
Q: How is this data collected or calculated?
A: The data is collected and reported annually by the U.S. Internal Revenue Service (IRS) based on processed individual income tax returns.
Q: How is this trend used in economic policy?
A: Policymakers and economists analyze this trend to assess the prevalence of separate tax filing among married couples and its potential impact on tax revenue and policy.
Q: Are there update delays or limitations?
A: The data is released annually with a lag, as it depends on the processing of individual tax returns by the IRS.
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Citation
U.S. Federal Reserve, Individual Income Tax Filing: Returns of Married Persons Filing Separately (RTSMPFS), retrieved from FRED.