Individual Income Tax Filing: Adjusted Gross Income (AGI): Salaries and Wages
AGISAW • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
124,472,109.00
Year-over-Year Change
10.77%
Date Range
1/1/1999 - 1/1/2016
Summary
The 'Individual Income Tax Filing: Adjusted Gross Income (AGI): Salaries and Wages' trend measures total salaries and wages reported on individual income tax returns in the United States. This key economic indicator provides insights into household income and consumer spending patterns.
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 represents the total amount of salaries and wages included in adjusted gross income (AGI) for individual income tax returns filed with the Internal Revenue Service (IRS). AGI is a fundamental metric used to assess personal income, tax liability, and household financial health.
Methodology
The data is collected directly from individual income tax returns filed with the IRS.
Historical Context
Policymakers and analysts use this metric to gauge consumer spending power and make informed decisions about economic and tax policy.
Key Facts
- Salaries and wages make up the largest component of AGI.
- AGI has increased by over 50% in the last two decades.
- The IRS receives over 150 million individual income tax returns annually.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total amount of salaries and wages reported on individual income tax returns in the United States.
Q: Why is this trend relevant for users or analysts?
A: This metric provides valuable insights into household income, consumer spending patterns, and the overall health of the economy.
Q: How is this data collected or calculated?
A: The data is collected directly from individual income tax returns filed with the Internal Revenue Service (IRS).
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to gauge consumer spending power and make informed decisions about economic and tax policy.
Q: Are there update delays or limitations?
A: The data is subject to the timing of individual income tax return filings, which can result in update delays of several months.
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Citation
U.S. Federal Reserve, Individual Income Tax Filing: Adjusted Gross Income (AGI): Salaries and Wages (AGISAW), retrieved from FRED.