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Need some suggestions, advice, and/or opinions on this.

I went to college online and I am making payments on my loan. I was wondering if anybody knew if they would take my loan money out of my taxes even if I'm paying on it or know of who to talk to so I can find out. Thank you in advance.

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Anonymous

Asked by Anonymous at 4:54 PM on Sep. 20, 2012 in

Answers (8)
  • Only if it's in a collections phase. I have a student loan and make payments on it and they have never taken anything from my taxes.
    LostSoul88

    Answer by LostSoul88 at 4:58 PM on Sep. 20, 2012

  • if you are in default they will take your taxes refund
    Crafty26

    Answer by Crafty26 at 5:01 PM on Sep. 20, 2012

  • If you are talking about a tax return, they will only do that if you have defaulted on the loan and I believe, though I am not sure thy have to have a judge sign off on it.
    Dardenella

    Answer by Dardenella at 5:05 PM on Sep. 20, 2012

  • though I am not sure thy have to have a judge sign off on it.

    no they don't... at least not if it's a federally subsidized loan. I only know b/c it happened to a friend of mine...
    Crafty26

    Answer by Crafty26 at 6:28 PM on Sep. 20, 2012

  • ok so if thts the case does tht mean i shouldnt file joint with my husband?
    Anonymous

    Comment by Anonymous (original poster) at 8:27 PM on Sep. 20, 2012

  • "ok so if thts the case does tht mean i shouldnt file joint with my husband?"

    Possibly. You need to run your numbers both ways because filing separately might cost you more. I would expect zero refund for 2012, just so you can be pleasantly surprised instead if you do get one.
    gdiamante

    Answer by gdiamante at 1:15 AM on Sep. 21, 2012

  • If you are in default they WILL take your federal tax return every year until it is no longer in default. You can also set it up with your student loan company to take your return every year as payment, even if not in default. If you are married, then I suggest that he files an injured spouse form. Talking to a tax professional, even the IRS 800# will get you more accurate information.
    tyfry7496

    Answer by tyfry7496 at 10:01 PM on Sep. 22, 2012

  • The best person to ask would be the person who does yr taxes!!
    Fairymom32

    Answer by Fairymom32 at 1:23 AM on Oct. 21, 2012

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