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The American Opportunity Tax Credit: Overview, Analysis, and Policy Options


The American Opportunity Tax Credit (AOTC)-enacted on a temporary basis by the American Recovery and Reinvestment Act (ARRA; P.L. 111-5) and extended through the end of 2017 by the American Taxpayer Relief Act of 2012 (P.L. 112-240; ATRA)-is a partially refundable tax credit that provides financial assistance to taxpayers who are attending college, or whose children are attending college. The credit, worth up to $2,500 per student, can be claimed for a student's first four years of post-secondary education. In addition, 40% of the credit (up to $1,000) can be received as a refund by taxpayers with little or no tax liability. The credit phases out for taxpayers with income between $80,000 and $90,000 ($160,000 and $180,000 for married couples filing jointly) and is hence unavailable to taxpayers with income above $90,000 ($180,000 for married couples filing jointly). There are a variety of other eligibility requirements associated with the AOTC, including the type of degree the student is pursuing, the number of courses the student is taking, and the type of expenses which qualify.


THE DOCUMENT INCLUDES FOLLOWING FILES:
# FILE NAME Document Date Order ID: Number of Pages PRICE
1 R42561.pdf Jan 16, 2013 R42561 21 $19.95 ADD TO CART

Older Versions:

The American Opportunity Tax Credit: Overview, Analysis, and Policy Options  [Order No: R42561  Release Date: Jul 10,2014  Pages: 23]

The American Opportunity Tax Credit: Overview, Analysis, and Policy Options  [Order No: R42561  Release Date: Mar 25,2014  Pages: 23]

The American Opportunity Tax Credit: Overview, Analysis, and Policy Options  [Order No: R42561  Release Date: Jan 16,2013  Pages: 21]

The American Opportunity Tax Credit: Overview, Analysis, and Policy Options  [Order No: R42561  Release Date: Jun 11,2012  Pages: 21]