Individual Income Tax Filing: Excess American Opportunity Credit (Refundable)
RFAOCTEAOC • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
4,611,420.00
Year-over-Year Change
-5.10%
Date Range
1/1/2009 - 1/1/2016
Summary
The 'Individual Income Tax Filing: Excess American Opportunity Credit (Refundable)' trend measures the dollar amount of refundable tax credits claimed by taxpayers for qualified education expenses under the American Opportunity Tax Credit (AOTC) program. This is an important indicator for policymakers and economists analyzing household finances and educational investment.
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 Excess American Opportunity Credit (Refundable) represents the portion of the AOTC that exceeds a taxpayer's total income tax liability and is therefore refunded as a cash payment. This refundable credit helps low- and moderate-income families offset the costs of post-secondary education and can influence enrollment and completion rates.
Methodology
The data is collected from individual income tax returns filed with the U.S. Internal Revenue Service.
Historical Context
Policymakers and economists use this metric to evaluate the impact of the AOTC on educational access and affordability.
Key Facts
- The AOTC provides up to $2,500 per eligible student for qualified education expenses.
- The refundable portion of the AOTC can be up to 40% of the total credit.
- The AOTC is phased out for higher-income taxpayers.
FAQs
Q: What does this economic trend measure?
A: This trend measures the dollar amount of refundable tax credits claimed by taxpayers for qualified education expenses under the American Opportunity Tax Credit (AOTC) program.
Q: Why is this trend relevant for users or analysts?
A: The Excess American Opportunity Credit (Refundable) is an important indicator for policymakers and economists analyzing household finances and educational investment, as the refundable credit helps low- and moderate-income families offset the costs of post-secondary education.
Q: How is this data collected or calculated?
A: The data is collected from individual income tax returns filed with the U.S. Internal Revenue Service.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this metric to evaluate the impact of the AOTC on educational access and affordability.
Q: Are there update delays or limitations?
A: The data may be subject to typical delays in individual income tax return processing and filing.
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Citation
U.S. Federal Reserve, Individual Income Tax Filing: Excess American Opportunity Credit (Refundable) (RFAOCTEAOC), retrieved from FRED.