The Office of Tax and Revenue will be closed on Friday, January 1 in... observance of New Year's Day. Post office interest rate: Recently, we have discussed the list of Chapter-VIA (Sections 80C to 80U) deductions available in computing taxable income of a tax payer for Assessment Year 2021-22. You can only download this statistic as a Premium user. The following financial reports have been filed with the Postal Regulatory Commission as required by the Postal Accountability and Enhancement Act of 2006. USPS said quarterly revenue rose to $17.6 billion, up $547 million. You need at least a Single Account to use this feature. The Department of Posts (DoP), trading as India Post, is a government-operated postal system in India, which is a subsidiary of the Ministry of Communications.Generally called "the Post Office" in India, it is the most widely distributed postal system in the world. A post office, particularly a rural post office, cannot be targeted for closure simply because it’s not bringing in enough revenues to cover its costs. * | Tags: Map facts Retail USPS Fact #125 | February 6, 2020 269,098 Total operating expenses came in at $19.3 billion. We compete for business in every product line, every day from the first mile to last mile,” said Postmaster General and CEO Megan J. Brennan. Financial Briefing Postmaster General and CEO Megan J. Brennan and Chief Financial Officer and Executive Vice President Joseph Corbett will host a telephone/Web conference call to discuss the financial results in more detail. Postal Service reported operating revenue of $71.1 billion for fiscal year 2019 (October 1, 2018 – September 30, 2019), an increase of $514 million compared to the prior year. Recommended to you based on your activity and what's popular • Feedback As a Premium user you get access to the detailed source references and background information about this statistic. Reuters/Brian Snyder. USPS has lost $69 billion over the past 11 fiscal years—including $3.9 billion in fiscal year 2018. Send to the Correct Address Check the IRS website for where to mail your tax return. The results marked the 13th consecutive year the mailing agency lost money, although USPS did post a slight uptick in revenue to $71.3 billion. Postal Service reported operating revenue of $70.6 billion for fiscal year 2018 (October 1, 2017 - September 30, 2018), an increase of $1.0 billion compared to the prior year. Total operating expenses came in at $19.3 billion. Post office could be losing a billion dollars a year by 2020, report says 4:08 By Elvina Nawaguna. You can register for myAccount or you can access it using your MyGovID verified account. The Postal Service reported total revenue of $17.6 billion for the third quarter of fiscal 2020, an increase of $547 million, or 3.2 percent, compared to the same period last year. “USPS has lost $69 billion over the past 11 fiscal years — including $3.9 billion in fiscal year 2018. This has raised many concerns in the media regarding Post Office Ltd's ability as a company to operate efficiently. Number of cars sold in the U.S. 1951-2019, Gas prices in the United States 1990-2020, Automotive industry worldwide - statistics & facts, Motorcycle Industry in the United States - statistics & facts, Research expert covering aviation, aircraft , rail and train manufacturing and the logistics industry, Profit from additional features with an Employee Account. WASHINGTON - The U.S. Check POST OFFICE RD rate of interest and calculate RD final amount via POST OFFICE RD Calculator on The Economic Times. To download the Historical Tables as a PDF, click here (362 pages, 6.4 MB). We are seeking reforms that would allow the organization to reduce costs, grow revenue, compete more effectively, and function with greater flexibility to adapt to the marketplace and to invest in our future.". Amazon stock tumbles 02:41. myAccount allows you to access many Revenue services, using a single login and password. POST OFFICE RD calculator online - Calculate POST OFFICE RD Interest rate using POST OFFICE Recurring Deposit calculator 2021. If you sold, gifted or transferred an asset between 1 December and 31 December 2020, the deadline for payment of any Capital Gains Tax due by 31 January 2021.. 21 January 2021 Career opportunities; 19 January 2021 Revenue seize over €12,000 cash at Dublin Port; 14 January 2021 Revenue update on Preliminary End … Postal Service reported operating revenue of $71.1 billion for fiscal year 2019 (October 1, 2018 - September 30, 2019), an increase of $514 million compared to the prior year. Then you can access your favorite statistics via the star in the header. The postage rate was based on the number of sheets in the letter and the distance it would travel. … E-commerce packages account for most of the USPS Parcel Select business, which brought in revenue of $6.8 billion on the delivery of 2.9 billion packages during the fiscal year ended Sept. 30, 2019. USPS financial problems have little to do with delivering the mail. Revenue from ticket sales will plunge to $5.5 billion this year, down more than 50 percent from $11.4 billion in 2019, MoffettNathanson analyst Michael Nathanson predicted on Tuesday. You need a Single Account for unlimited access. The following table presents selected results of operations and reconciles GAAP net loss to controllable loss and illustrates the loss from ongoing business activities without the impact of non-controllable items for the twelve months ended September 30, 2018, and 2017: Interest and investment income (expense), net, PSRHBF unfunded liability amortization expense1, Change in workers’ compensation liability resulting from fluctuations in discount rates, Other change in workers’ compensation liability2, CSRS unfunded liability amortization expense3, FERS unfunded liability amortization expense4, Change in normal cost of retiree health benefits due to revised actuarial assumptions5. These adjustments include workers’ compensation expenses caused by actuarial revaluation and discount rate changes, and the amortization of PSRHBF, CSRS and FERS unfunded liabilities. These services include: Pay As You Earn (PAYE) services (including Jobs and Pensions) Local Property Tax (LPT) Home Renovation Incentive (HRI). volume increased in 3 of the last 5 years, the steady decline in volume from First-Class Mail—the Postal Service’s most profitable product—continues to affect overall revenue and jeopardizes the Postal Service's ability to cover total costs. With 4,330 post offices, we have the nation’s most extensive retail footprint – and 2,520 of these offices are in regional Australia. Reuters. USPS Posts Annual Loss, Though Revenue Rises Postal service recorded a net loss of $5.1 billion, compared with a loss of $5.5 billion in 2014 But the Postal Service can suspend the office for a lease or staffing issue or the condition building, and as explained in the Postal Service’s Discontinuance Guide , suspensions are one of the factors that may prompt a study to discontinue. Postal Services (USPS) fluctuated around 70 billion U.S. dollars. Operating expenses for the year were $74.4 billion, an increase of $2.2 billion, or 3.1 percent, compared to the prior year. A January 2014 report by the inspector general of the USPS suggested that the agency could earn $8.9 billion per year in revenue by providing financial services, especially in areas where there are no local banks but there is a local post office, and to … Latest Updates: News | Daily | Weekend | All Time | International | Showdowns Help. Although mail volume declines were partially offset by growth in package volume, overall volume for the year declined by 3.2 billion pieces. WASHINGTON – The U.S. Insufficient cost savings: The savings from USPS cost-reduction efforts have dwindled in recent years. Its revenue comes from selling its products and services. U.S. federal tax revenue is the total tax receipts received by the federal government each year. http://about.usps.com/who-we-are/financials/welcome.htm, https://usps.webex.com/usps/onstage/g.php?MTID=e3161da429260c672d3fe035cac2519ab, http://about.usps.com/news/electronic-press-kits/cfo/welcome.htm. Accessed January 27, 2021. https://www.statista.com/statistics/320215/global-revenue-of-the-us-postal-service/, USPS. Similar to the last several years, the Postal Service was unable to make the $6.9 billion in payments that were due to the federal government at the end of fiscal year 2018 to pre-fund pension and health benefits for postal retirees, without putting its ability to fulfill its primary mission at undue risk. Postal Services (USPS) has experienced a year … Corporate solution including all features. As soon as this statistic is updated, you will immediately be notified via e-mail. Values have been rounded. Subscribe to the USPS YouTube Channel, like us on Facebook and enjoy our Postal Posts blog. New, Everything you need to know about the industry development, Find studies from all around the internet. April 15, 2021 – Federal tax return filing deadline for tax year 2020; Check Post Office Hours. In fiscal 2015, package revenue increased by 11.4 percent over the prior year. Revenue came to $69.6 billion, down from $71.5 billion last year. Payments are to be made in equal installments through 2047. (November 13, 2020). Payments are to be made in equal installments through 2043. Post Office Saving Account customer to submit duly filled request form in respective Post Office, After enabling desired service in customers Savings Accounts by Post Office, customer will get activation code on his/her mobile within 48 hours to proceed further.