Can a student loan company withhold your income tax returns?

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Yes, if you have defaulted on a student loan your taxes can in fact be taken by the government to repay the loan. Please note that they will also charge additional interest as well as penalties. If you have made payment arrangements with a your guarantor once you have made 4-6 consecutive monthly payments you can have the withholding released.
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Do student loans have to be reported on income taxes?

Student loans are not reported as income on the tax return.. The interest you pay on a student loan is deductible as long as you meet certain criteria such as Income limitati

ON a defaulted student loan how can garnished income tax returns be stopped?

Government (backed) Student Loans (like a few other things...child support, legal fines, that type of thing) are given a special, very priority place as an obligation in most

How will you know if your income tax return will be taken on defaulted student loan?

The Federal Management Service (FMS) applies ('offsets') income tax refunds through the Treasury Offset Program (TOP) to cover non-tax debts such as student loans. FMS sends

Can you claim your student loan interest on your New York state income tax return?

Yes , according to Summary of Budget Bill Personal Income Tax Changes Enacted in 2009. Interest paid on a loan made under the New York Higher Education Loan Program will be al

Can a loan company garnish tax returns?

If you are in the U.S., and the student loans are Federally Guaranteed, then the answer is yes. In fact, this is the collection agency's favorite way to get money and get the

Can a student loan company withhold your income federal income tax returns if they are garnishing your wages?

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 basic

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 ar
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Can private student loans garnish your income taxes?

Yes, they can and if you don't call them to take care of it, they will. I have seen it happen to more than one person. They will give you a chance to get your loans out of def