Student loans are a major financial factor for millions of Americans, and their influence extends beyond monthly payments and interest rates. If you’re repaying student loans or have benefited from loan forgiveness programs, understanding how these situations affect your tax return is essential. Here’s a detailed look at how student loan interest deductions and forgiveness…
Federal student loan borrowers late on their payments have been granted some relief by the Department of Education, which will stop the collections process for federal student loans in default, including wage garnishment actions, which won’t garnish their wages or withhold money from their federal benefits or tax refunds for at least 60 days starting…
Your tax return may show that you’re due a refund from the IRS. However, if you owe a federal tax debt from a prior tax year, or a debt to another federal agency, or certain debts under state law, the IRS may keep (offset) some or all of your refund to pay that debt. What…
