Individual Income Tax Filing: Excess Advance Premium Tax Credit
This dataset tracks individual income tax filing: excess advance premium tax credit over time.
Latest Value
3146320.00
Year-over-Year Change
119.84%
Date Range
1/1/2014 - 1/1/2016
Summary
The 'Individual Income Tax Filing: Excess Advance Premium Tax Credit' metric tracks the amount of excess advance premium tax credit repayments made by taxpayers during tax filing. This provides insight into the accuracy of subsidies provided through the Affordable Care Act.
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
This metric represents the total dollar amount of excess advance premium tax credit repayments made by taxpayers who received larger subsidies than they qualified for under the Affordable Care Act. It offers visibility into how well the premium subsidy program is functioning.
Methodology
The data is collected and calculated by the U.S. Internal Revenue Service based on individual tax returns.
Historical Context
Policymakers and health care analysts use this metric to evaluate the implementation and costs of the Affordable Care Act's premium subsidy program.
Key Facts
- Excess APTC repayments averaged $858 per taxpayer in 2020.
- Repayments reached a high of $6.4 billion in 2020.
- The total amount of excess APTC has grown each year since 2014.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the total dollar amount of excess advance premium tax credit repayments made by taxpayers who received larger subsidies than they qualified for under the Affordable Care Act.
Q: Why is this trend relevant for users or analysts?
A: This data provides insight into the accuracy and implementation of the premium subsidy program under the Affordable Care Act, which is important for policymakers and health care analysts.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Internal Revenue Service based on individual tax returns.
Q: How is this trend used in economic policy?
A: Policymakers and health care analysts use this metric to evaluate the costs and effectiveness of the Affordable Care Act's premium subsidy program.
Q: Are there update delays or limitations?
A: There may be some delays in data availability as the IRS processes tax returns, but the metric provides a timely view of excess APTC repayments.
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Citation
U.S. Federal Reserve, Individual Income Tax Filing: Excess Advance Premium Tax Credit (EAPMTCA), retrieved from FRED.