Individual Income Tax Filing: Form 1040EZ Returns
RT1040EZFRM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
23,775,765.00
Year-over-Year Change
12.95%
Date Range
1/1/1999 - 1/1/2016
Summary
The Individual Income Tax Filing: Form 1040EZ Returns series tracks the number of U.S. individual income tax returns filed using the simplified 1040EZ form, providing insight into tax filing behavior.
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 1040EZ is a simplified individual income tax return form used by taxpayers with straightforward financial situations. Tracking this metric helps economists and policymakers understand trends in tax filing complexity and potential impacts on tax revenue.
Methodology
The data is collected by the U.S. Internal Revenue Service (IRS) from processed individual income tax returns.
Historical Context
This metric is used by economists, policymakers, and tax authorities to analyze individual tax filing patterns and their economic implications.
Key Facts
- The 1040EZ form is used by taxpayers with simple tax situations, such as having only wage income and taking the standard deduction.
- The number of 1040EZ returns filed has declined over time as tax laws have become more complex.
- Trends in 1040EZ filings can indicate changes in the financial situations of lower- and middle-income households.
FAQs
Q: What does this economic trend measure?
A: The Individual Income Tax Filing: Form 1040EZ Returns series tracks the number of U.S. individual income tax returns filed using the simplified 1040EZ form.
Q: Why is this trend relevant for users or analysts?
A: Tracking 1040EZ filings provides insights into tax filing complexity and potential impacts on tax revenue, which are important for economists and policymakers.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Internal Revenue Service (IRS) from processed individual income tax returns.
Q: How is this trend used in economic policy?
A: This metric is used by economists, policymakers, and tax authorities to analyze individual tax filing patterns and their economic implications.
Q: Are there update delays or limitations?
A: The data may have a short delay in reporting due to the time required for the IRS to process individual tax returns.
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Citation
U.S. Federal Reserve, Individual Income Tax Filing: Form 1040EZ Returns (RT1040EZFRM), retrieved from FRED.