Individual Income Tax Filing: Excess American Opportunity Credit (Refundable)
This dataset tracks individual income tax filing: excess american opportunity credit (refundable) over time.
Latest Value
3935073.00
Year-over-Year Change
1.13%
Date Range
1/1/2009 - 1/1/2016
Summary
The Excess American Opportunity Credit (Refundable) trend measures the amount of refundable tax credits claimed by individuals on their income tax returns for the American Opportunity Tax Credit. This provides insight into taxpayer utilization of this education-focused tax benefit.
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 American Opportunity Tax Credit that exceeds an individual's total tax liability and is refunded to the taxpayer. This refundable credit aims to expand access to higher education by offsetting qualified expenses.
Methodology
The data is collected from individual income tax returns filed with the U.S. Internal Revenue Service.
Historical Context
This metric helps policymakers and economists assess the effectiveness of the American Opportunity Tax Credit in promoting college affordability and enrollment.
Key Facts
- The American Opportunity Tax Credit can be worth up to $2,500 per eligible student.
- The refundable portion of the credit accounts for about 40% of total AOTC claims.
- Over 10 million taxpayers claimed the AOTC in 2020.
FAQs
Q: What does this economic trend measure?
A: The Excess American Opportunity Credit (Refundable) measures the portion of the American Opportunity Tax Credit that exceeds an individual's total tax liability and is refunded to the taxpayer.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the utilization and impact of the refundable American Opportunity Tax Credit, which aims to improve college affordability and access.
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 assess the effectiveness of the American Opportunity Tax Credit in promoting higher education enrollment and affordability.
Q: Are there update delays or limitations?
A: The data may have a delay of several months due to the tax filing and processing cycle.
Related News
Unpredictability of Interest Rate Direction in the United States
Navigating the Unpredictability of Interest Rates Interest rates have turned into one of the most unpredictable elements in the American financial landscape. This unpredictability stems largely from the nuanced decisions of the Federal Reserve, often referred to as the Fed, whose policies ripple through financial markets, influencing borrowing costs for everyone from ambitious entrepreneurs to families securing mortgages. The web of economic indicators, which serves as the backbone for interest
U.S. Natural Gas Prices Rise Due to Warmer Weather Forecasts
U.S. Natural Gas Prices Surge: Economic and Weather Patterns at Play The current surge in U.S. natural gas prices is reshaping the energy market landscape. Recent weather forecasts, combined with robust economic patterns, are pushing these prices skyward, affecting individuals and industries alike. This uptrend intertwines with broader energy market dynamics, such as climate patterns and economic impacts. Understanding these interconnected factors helps explain the increasingly volatile natural
US 10-year Treasury yield rise signals caution for investors
How the 10-Year Treasury Yield Surge Impacts Investors and the Fixed-Income Market The 10-year Treasury yield has surged past the 4% mark, capturing the attention of investors and markets alike. This rise is not just a random development; it signals broader shifts in the economic landscape, influencing everything from bond markets to investor strategies. When the 10-year Treasury yield shifts, it sends a ripple effect through financial ecosystems, underscoring its role as a critical economic in
U.S. Stock Futures Stagnant Despite Positive Jobless Claims and GDP
Why US Stock Futures Remain Stagnant Despite Positive Economic Indicators The current investment landscape is puzzling for many as US stock futures struggle to show a definite trend despite favorable economic signals. These signals, such as jobless claims and Q2 GDP figures, suggest a healthy economy. Given the roles of the stock market and the Federal Reserve's decisions on rate hikes, it is surprising to witness this stagnation. Inflation trends and the Fed's signals about future policies pla
U.S. Home Sales Decline In August Due To High Prices
August 2023 U.S. Home Sales Decline Amid Rising Mortgage Rates and High Prices In August 2023, U.S. home sales experienced a notable decline, highlighting a distressing trend in the housing market. Homeownership is more costly these days. High home prices and soaring 30 year mortgage rates, combined with limited housing inventory, pose significant challenges for potential buyers and cast a shadow on economic recovery efforts. Many potential homebuyers find themselves increasingly priced out of
U.S. jobless claims decline to lowest level since mid-July
U.S. Jobless Claims Drop: A Positive Sign for Economic Growth The U.S. economy is signaling a positive turn as the initial jobless claims have dropped to their lowest level since mid-July, suggesting a more resilient labor market. This decline in jobless claims is not just a number; it reflects crucial dynamics in the U.S. economy and employment landscape. As people file fewer claims for unemployment benefits, it suggests a strengthening employment market and a recovering economy. Also, the cur
Related Trends
Consumer Price Index for All Urban Consumers: All Items in U.S. City Average
CPIAUCNS
Capacity Utilization: Total Index
TCU
Commercial and Industrial Loans, All Commercial Banks
TOTCI
Share of Foreign Born in Home Owners Loan Corporation (HOLC) Neighborhood A
RLMSHFBHOLCNA
Home Ownership Rate in Home Owners Loan Corporation (HOLC) Neighborhood C
RLMSHHORHOLCNC
Share of Foreign Born in Home Owners Loan Corporation (HOLC) Neighborhood C
RLMSHFBHOLCNC
Citation
U.S. Federal Reserve, Individual Income Tax Filing: Excess American Opportunity Credit (Refundable) (RFAOCTEAOCA), retrieved from FRED.