Academic Period Law and Legal Definition

According to 26 CFR 1.25A-2 [Title 26 -- Internal Revenue; Chapter I -- Internal Revenue Service, Department of the Treasury; Subchapter A -- Income Tax], academic period means “a quarter, semester, trimester, or other period of study as reasonably determined by an eligible educational institution. In the case of an eligible educational institution that uses credit hours or clock hours, and does not have academic terms, each payment period may be treated as an academic period.