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Methods and Assumptions of the CPS ASEC Tax Model
Methods and Assumptions of the CPS ASEC Tax Model
Working Paper Number SEHSD-WP2022-18
Introduction
The Census Bureau’s CPS ASEC Tax Model imputes federal and state taxes and credits for the Current Population Survey Annual Social and Economic Supplement (CPS ASEC) on an annual basis. The imputed information is also reflected in the Census Bureau’s Income and Poverty reports examining post-tax income and the Supplemental Poverty Measure. The Census Bureau created the CPS ASEC Tax Model in the early 1980s, and the model undertook a major methodological update in 2004. This paper provides users a comprehensive documentation of the CPS ASEC Tax Model. It details the methodology, assumptions and data underlying the model. Specifically, the paper describes in detail the formation of tax units, construction of income, statistical match to IRS microdata, iterative calculations of federal and state taxes and credits, requirements for filing, and a description of the output variables. This paper also discusses the limitations of the CPS ASEC Tax Model and presents aggregate statistics for comparisons with tabulations from the Internal Revenue Service.
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Page Last Revised - December 20, 2022
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