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If your son files head of household and you have a defaulted student loan will the IRS hold his income tax refund?
Wiki User
∙ 14y ago
Yes they will. The IRS held my 2008 Tax return because of this. I had a defaulted student loan and now it is the next year and I am having processing delays code 1301. If anyone knows what reference code 1301 is. Please let me know.
Wiki User
∙ 14y ago
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Can both your wages be garnished and your tax refund taken for defaulted student loan or just one or the other?
both...untill its paid off.
If you are making you monthly payments on your student loan can you still get your income tax at the end of the year?
If you are not delinquent with your student loan, your federal income tax refund will not be garnished.
Does a student loan refund have to be claimed as income on taxes?
Loans are never taxable...I'm not sure what you mean by a loan refund though!
If you are being garnished for a defaulted student loan will they keep your entire tax return?
They will take the entire tax refund if you owe that much. And they will do that every year until the loan is paid.
When filing for the state income taxes do you receive your federal income tax refund as well as your state income tax refund?
No, when filing for the state income taxes, you will receive your federal income tax refund as well as your state income tax refund.
Can an unemployed single mom and college student get a tax refund check?
Well, that depends. The tax refunds that people get every year are income tax, which is so named because it is based on income. If you are unemployed, or without income, there may not be a lot of tax there to refund. The idea of a refund is that you get back what you paid in the first place. If you had no income, then a refund is unlikely, although depending on whatever other source of income it is that enables you to survive, it is possible. Just fill out the 1040EZ to see how it works out in your situation.
Is your income tax return qualify as income?
In the U.S., your federal income tax refund does not count as taxable income for the next year. If you receive a refund from your state, and you itemized your deductions on the federal return, then the state refund will count as income on your federal return. (If you didn't itemize, then your state refund won't count as income.)
Which type of tax helps in reducing disparities of income?
GET YOUR BIGGEST TAX REFUND GUARANTEED. FREE TAX CALCULATORS AND TOOLS. START MAX REFUND FOR FREE. START STUDENT FOR FREE. met.bz/jbQRXYBTvQ1G
Can they attach my federal income tax refund if I have a single unmarried dependent with a defaulted school loan?
Who is "they"? The government can garnish your wages, and yes, withhold your refund; however, a private business/entity (like a college) cannot. A private business would require a court order before engaging in such activity.
Would paying the interest on a student loan hurt income tax refund?
No the qualifying interest paid during the for a qualifying student can be a above the line deduction on the 1040 income tax return page 1 line 33 as an adjustment to income and would reduce your total income amount when it come to the line 37 for your adjusted gross income. This could possible increase your refund amount if all of the rules and qualification are met for you to take this adjustment to income for the qualifying student loan interest that was paid during the year. This method would reduce your taxable income amount on page 2 of the 1040 tax form because of the reduction to your total income.
If EIC earned income credit is more than refund can student loans take your taxes Bankruptcy and other agencies cannot take your tax refund when eic is greater in amount than that of the refund?
Any federal or state agencies (including student loan and child support) have the right to take any amount due from your refund. It has nothing to do with EIC and they have the right to take the whole refund you are due if you are in default or have a judgment against you.
Is tax refund an income?
No
