Annual Revisions to the National Income and Product Accounts: Wages and Salaries Revised up for 2020
Posted on July 30, 2021 Yesterday the Bureau of Economic Analysis (BEA) released its end-July annual revisions to the National Income and Product Accounts (NIPAs). The NIPAs consist largely of the many components of GDP, and every July BEA brings in new source data and revises a number of series going back at least three […]
Federal Corporate Income Tax Payments This Year Are Far Outpacing Amounts in 2019 and 2020
Posted on July 21, 2021 We’ve posted before about the surprisingly high amount of corporate income tax payments so far this year. With two-and-a-half months left in the fiscal year, amounts paid have already well exceeded amounts paid in all of 2019 and 2020 (see chart below). With the mid-July payment now in, payments this […]
Tax Withholding Remains Strong in the First Half of July
Posted on July 18, 2021 If you’re looking for signs of U.S. economic weakness, you won’t find them in the daily tax withholding data. It’s probably not a surprise, but economywide withholding growth in the first half of July continued at its recent strong pace, according to our calculations based on data from the Daily […]
Big Jump in Individuals’ Quarterly Estimated Payments in June
Posted on July 6, 2021 It’s becoming somewhat of a broken record, saying how tax collections from all different sources have been rebounding strongly in recent months, and particularly in sources that relate to higher-income taxpayers. Well, another data point along those same lines comes from individuals’ quarterly estimated payments in June. The payments were […]