Wondering Where Your Tax Refund Might Be? Check Your Student Loan Debt
By now millions of taxpayers have already filed their returns and have received their refunds. Still, there are others who are waiting for that check to show up in their account. For some, that wait can be very difficult and even cause a little anxiety. In most cases, there’s no need to worry. Just give it enough time and the IRS should be sending your refund soon. On the other hand, for some people who owe money on their student loans, the news might not be so good.
Several taxpayers are discovering this year that the refund they were expecting to get has instead been allocated for something else: to pay off their student loan debt. While this may come as a surprise to many, the law allows the Department of Education to take your tax refund if your student loan debt is in default. They can do this by using the Treasury Offset Program, which allows federal payments you would have otherwise received, to be taken and used to pay off debts to federal agencies.
However, according to the law, anyone who has a loan in default should first receive a warning that his or her tax refund could be used for paying down that student loan debt. In addition, if you do lose part or all of your refund, you can contest the decision. However, in order to win your protest essentially you have to prove that your student loan is not actually in default.
Add These Historical U.S. Sites to Your Bucket List
Add These Historical U.S. Sites to Your Bucket List Are you a history buff? There are so many places in the country to see if you want to experience some of the things that helped make this country what it is today. Of course, there are many well known sites that would make any history…
How to Build Emotional Intelligence
How to Build Emotional Intelligence IQ vs. EQ and how that affects you Throughout childhood teachers are quick to pick out students who are “high performers” and have a high IQ. With society giving such a larger emphasis on IQ, it is inferred that only those who have a high IQ will be successful financially…
Leadership Through Crucial Conversations
Leadership Through Crucial Conversations Think of a time where you had a difficult conversation with someone, the kind where emotions are strong, and the stakes are high. It could be on a variety of topics: negotiating a raise at work, having to fire an employee, or even how to tell your spouse that you don’t…
The Top Benefits of Floating Therapy
The Top Benefits of Floating Therapy Have you ever felt so good that you “feel like you’re walking on air?” Of course, that’s just an expression, but what if you could get that kind of feeling in a real-world experience? Life is stressful and people are always looking for new ways to catch a breather,…