Individual Income Tax Filing: Tax Payments: Estimated Tax Payments
This dataset tracks individual income tax filing: tax payments: estimated tax payments over time.
Latest Value
9522185.00
Year-over-Year Change
-13.41%
Date Range
1/1/1999 - 1/1/2016
Summary
The Individual Income Tax Filing: Tax Payments: Estimated Tax Payments series measures the amount of estimated tax payments made by individuals in the United States. This metric is important for economists and policymakers to understand trends in personal income tax compliance and cash flow.
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 series tracks the total dollar value of estimated tax payments made by individual taxpayers to the Internal Revenue Service on a quarterly basis. Estimated payments are a key component of the overall personal income tax system, as they allow taxpayers to pay taxes owed throughout the year rather than in a lump sum.
Methodology
The data is collected by the U.S. Treasury Department from tax return filings.
Historical Context
Estimated tax payments are closely monitored by economic analysts and policymakers to gauge taxpayer behavior and implications for government revenue.
Key Facts
- Estimated tax payments totaled $530 billion in 2021.
- Payments are due four times per year on a quarterly schedule.
- The IRS may require some taxpayers to make estimated payments to avoid underpayment penalties.
FAQs
Q: What does this economic trend measure?
A: This series tracks the total dollar value of estimated income tax payments made by individual taxpayers to the IRS on a quarterly basis.
Q: Why is this trend relevant for users or analysts?
A: Estimated tax payments are a key indicator of personal income tax compliance and cash flow, which is closely monitored by economic analysts and policymakers.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Treasury Department from individual tax return filings.
Q: How is this trend used in economic policy?
A: Estimated tax payment data is used by economists and government agencies to assess taxpayer behavior and its implications for government revenue and fiscal policy.
Q: Are there update delays or limitations?
A: The data is published on a quarterly basis with a lag of several months as it is compiled from tax return filings.
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Citation
U.S. Federal Reserve, Individual Income Tax Filing: Tax Payments: Estimated Tax Payments (TXPMTEST), retrieved from FRED.