Individual Income Tax Filing: Returns with Additional Standard Deductions for Age 65 or Over or Blindness
SDRASDOB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
15,316,052.00
Year-over-Year Change
39.43%
Date Range
1/1/1999 - 1/1/2016
Summary
This economic trend tracks the number of individual income tax returns filed with additional standard deductions for taxpayers aged 65 or older or who are blind. It provides insights into the demographics and tax behaviors of older and disabled Americans.
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 Individual Income Tax Filing: Returns with Additional Standard Deductions for Age 65 or Over or Blindness data series measures the number of individual tax returns that claim additional standard deductions due to the taxpayer being 65 or older or blind. This statistic is useful for economists and policymakers to understand the tax situation and economic activities of older and disabled populations.
Methodology
The data is collected by the U.S. Internal Revenue Service from individual income tax returns.
Historical Context
This trend is relevant for assessing the tax burdens and economic status of senior citizens and persons with disabilities.
Key Facts
- This metric has been tracked since the 1980s.
- The number of returns claiming additional deductions has steadily increased over time.
- Older taxpayers account for the majority of additional standard deductions.
FAQs
Q: What does this economic trend measure?
A: This trend tracks the number of individual income tax returns that claim additional standard deductions due to the taxpayer being age 65 or older, or blind.
Q: Why is this trend relevant for users or analysts?
A: This data provides insights into the tax situations and economic activities of older and disabled populations, which is useful for economists and policymakers.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Internal Revenue Service from individual income tax returns.
Q: How is this trend used in economic policy?
A: This trend is relevant for assessing the tax burdens and economic status of senior citizens and persons with disabilities.
Q: Are there update delays or limitations?
A: The data is updated annually by the IRS and may have a short delay before publication.
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Citation
U.S. Federal Reserve, Individual Income Tax Filing: Returns with Additional Standard Deductions for Age 65 or Over or Blindness (SDRASDOB), retrieved from FRED.