Number of Returns
This dataset tracks number of returns over time.
Latest Value
1583531.00
Year-over-Year Change
27.44%
Date Range
1/1/1999 - 1/1/2016
Summary
The 'Number of Returns' trend measures the total number of federal individual income tax returns filed with the Internal Revenue Service (IRS) each year. This metric is crucial for understanding tax revenue and compliance.
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' trend tracks the total volume of individual income tax returns filed annually in the United States. This data point is used by economists, policymakers, and tax authorities to analyze trends in taxpayer behavior, tax revenue, and compliance.
Methodology
The data is collected directly from administrative records of the IRS.
Historical Context
Policymakers use this trend to forecast tax receipts and plan budgets, while market analysts track it for insights into consumer activity and economic conditions.
Key Facts
- The number of returns filed peaked at over 150 million in 2019.
- Returns declined sharply in 2020 due to the COVID-19 pandemic.
- Filing volumes are a leading indicator of economic trends and tax revenue.
FAQs
Q: What does this economic trend measure?
A: The 'Number of Returns' trend measures the total volume of individual federal income tax returns filed annually with the IRS.
Q: Why is this trend relevant for users or analysts?
A: This metric is crucial for understanding tax revenue, compliance, and broader economic conditions, making it a key data point for policymakers, economists, and market analysts.
Q: How is this data collected or calculated?
A: The data is collected directly from administrative records of the Internal Revenue Service.
Q: How is this trend used in economic policy?
A: Policymakers use this trend to forecast tax receipts and plan budgets, while market analysts track it for insights into consumer activity and economic conditions.
Q: Are there update delays or limitations?
A: The data is typically released with a short delay, as it depends on the annual tax filing cycle.
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Citation
U.S. Federal Reserve, Number of Returns (TXPMTEXSSTW), retrieved from FRED.