Individual Income Tax Filing: Refundable American Opportunity Credit
This dataset tracks individual income tax filing: refundable american opportunity credit over time.
Latest Value
8763285.00
Year-over-Year Change
-0.82%
Date Range
1/1/2009 - 1/1/2016
Summary
The Individual Income Tax Filing: Refundable American Opportunity Credit (RFAOCT) measures the total amount of refundable tax credits claimed for the American Opportunity Tax Credit. This credit helps offset the costs of higher education, which is a key economic indicator for policymakers.
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 Refundable American Opportunity Credit (RFAOCT) is a tax credit available to eligible taxpayers to help cover qualified education expenses. It is a component of individual income tax filings that provides insight into the costs and affordability of higher education, an important economic factor for both consumers and policymakers.
Methodology
The RFAOCT data is collected by the U.S. Internal Revenue Service from individual income tax returns.
Historical Context
This metric is used by economists and policymakers to assess the accessibility and impact of higher education on the economy.
Key Facts
- The RFAOCT reached a high of $16.8 billion in 2021.
- The credit can be worth up to $2,500 per eligible student.
- Eligibility phases out for higher-income taxpayers.
FAQs
Q: What does this economic trend measure?
A: The RFAOCT measures the total amount of refundable tax credits claimed by taxpayers for the American Opportunity Tax Credit, which helps offset the costs of higher education.
Q: Why is this trend relevant for users or analysts?
A: The RFAOCT provides insight into the accessibility and affordability of higher education, an important economic factor for both consumers and policymakers.
Q: How is this data collected or calculated?
A: The RFAOCT data is collected by the U.S. Internal Revenue Service from individual income tax returns.
Q: How is this trend used in economic policy?
A: Economists and policymakers use the RFAOCT to assess the impact of higher education costs on the economy and make informed decisions about education policy.
Q: Are there update delays or limitations?
A: The RFAOCT data is typically released with a lag due to the nature of individual income tax filings.
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Citation
U.S. Federal Reserve, Individual Income Tax Filing: Refundable American Opportunity Credit (RFAOCT), retrieved from FRED.