Corporate Income Tax Receipts in June: Signs of a Slowdown in Corporate Profit Growth
Posted on June 23, 2022 In mid-June most firms made their second quarterly estimated payment of income taxes for the 2022 tax year, and the overall amounts paid to the Treasury Department indicate a slowing in recent months in the growth of corporate profits, the main driver of such tax payments. On the one hand, […]
We Expect No Major Revision of Wages and Salaries for 2021 in the Upcoming July Annual Revisions of the National Income and Product Accounts: We Probably Need to Look Elsewhere for the Source of Much of the Recent Strong Growth in Federal Individual Income Tax Revenues
Posted on June 9, 2022 We do not expect economywide wages and salaries as measured in the National Income and Product Accounts (NIPAs) to be revised upwards for 2021 when the Bureau of Economic Analysis–which compiles and publishes the NIPAs–undertakes its annual revisions in late July. We reach that conclusion from data released this week […]