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How do you know if your income tax return will be garnished from default student loan?
Wiki User
∙ 9y ago
You can call the Department of Treasury. 1-800-304-3107. This is an automated system where you just put in all of your information and they will tell you whether an offser will occur, and the information as to who is doing it.
Wiki User
∙ 9y ago
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Can Federal tax return be garnished for student loan?
yes - it can be garnished for any federal obligations
Can student loans be garnished from tax return?
Government Guaranteed or isnured ones, yes.
Default on a student loan?
In the US, if you don't pay your student loans for 270 days, they become default. When they become default, the collection agency will start to garnish your wages and the government will keep all future tax return refunds. You should consolidate your student loans and prevent the wage garnishment. You can get an income-based repayment plan and pay as little as $0 a month, defending on your income and dependants. If you want help with the consolidation of your student loans, click on the link below.
Can your federal income tax return be garnished?
If you owe back taxes, or owe the social security, have a judgment aginest you the taxes can be garnished.
What happened when a default judgment for student loan is placed?
In the US, if you don't pay your student loans for 270 days, they become default. When they become default, the collection agency will start to garnish your wages and the government will keep all future tax return refunds. You should consolidate your student loans and prevent the wage garnishment. You can get an income-based repayment plan and pay as little as $0 a month, defending on your income and dependants. If you want help with the consolidation of your student loans, click on the link below.
How much income do you have to earn before you file income tax return as a student?
$10,000
If you are paying back your student loan can the government still withhold your income tax return?
In the USA, if you are paying the required minimum monthly payment each month and your loans are not in default, then NO the government can not keep your tax return. If you are repaying your loans while in a default status, then YES the government can keep your return. If you need help getting your loans out of default and off the tax offset list, then click on my username, Studentloaner, below.
When can the IRS garnish your tax return?
The government has just garnished my 2008 federal tax return due to my student loan being defaulted. My student loan dates back to 2005. It was very inconvenient to have my return garnished, especially since I would have received $6,500, but I am also glad I had this resolved!
What does it mean to have an outstanding loan and be in default?
To have an outstanding loan and be in default means that you have forfeited to make the required repayment instalments on the principal loan. You still owe the loan amount and the relevant interest levels.
A student loan has been in default will collection agency still garnish tax return?
If it was a federal student loan, then yes, the collections agency could take your income tax return money. If it was a non-federal loan, then they would not be able. Secondly, federal student loans are can not be discharged, the US always gets paid even when laws are created for private businesses that disallow the same right of collections.
If you are in default to a student loan company can they take your income tax return without first taking you to court to get a judgment?
If it is a loan backed by the government (insured/guaranteed), then that step isn't needed. If it isn't, even with it, they can't get to your refund until you do.
Can a junior ranking marine's taxes be garnished for a student loan?
In the USA, if your Federal Student Loans are in default, then your original lender was paid 97% of your loan value by a Federal Guarantee Agency. Guarantee Agencies are basically insurance companies. When your lender was paid off, the Guarantee Agency took ownership of your loans. Guarantee Agencies have the right by law to keep any Federal Income Tax return money that is owed to you. They also have the right to garnish any wages and to garnish Social Security benefits. If you need help getting out of default and getting off of the tax offset list, click on my profile, StudentLoaner, below.
