SPMFEDTAXAC is a 6-digit numeric variable.

Description

SPMFEDTAXAC_19RYALT measures a family's total tax liability after all tax credits are deducted. Tax credits include the earned income tax credit and the child tax credit. This variable is used in the construction of the Supplemental Poverty Measure (SPM) and is measured for the entire SPM family unit.

This variable is an alternative version of SPMFEDTAXAC that was re-released for the 2020 ASEC which reflects methodological changes first introduced with the 2021 CPS ASEC sample. For more information, see our documentation on the re-release of the 2019 SPM research file in the 2020 ASEC that describes methodological improvements that impact SPM resource and threshold variables. The SPM reference year is the calendar year to which the income, taxes, transfers, expenses, and poverty thresholds apply.

Tax liability before credits is reported in SPMFEDTAXBC_19RYALT.

Amounts for SPMFEDTAXAC_19RYALT are expressed in dollars of the given year, rather than in constant dollars adjusted for inflation. Users can adjust for inflation using Consumer Price Index adjustment factors.

For more information on calculation of the SPM, see the Census Bureau's "The Research Supplemental Poverty Measure" report.

Comparability

This variable is comparable over time.

Universe

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Unharmonized Variables