2007-03-05 05:22:34 · 4 answers · asked by plawad 1 in Business & Finance ➔ Taxes ➔ United States
If you've defaulted on it, then they can and will. If you have made all the payments that you are supposed to, then no they won't.
2007-03-05 11:21:21 · answer #1 · answered by Judy 7 · 0⤊ 0⤋
If you are in default on a government guaranteed student loan, any tax refund -- State and Federal -- can be captured and be applied to the outstanding debt.
If you are not in default -- say you're just a couple months behind -- your tax refund cannot be captured.
If you are in default on a PRIVATELY insured student loan, your refund cannot be captured.
2007-03-05 05:28:15 · answer #2 · answered by Bostonian In MO 7 · 2⤊ 0⤋
Yep, they sure can. You need to talk to the IRS (good Luck) and work out payment arrangements, make sure to get anything they say, written and notarized. If money is coming out of the bank: make sure the bank has the notarized forms as well so the IRS doesn't take out more. I personally changed my accounts so the IRS couldn't touch my money, and opened 1 account for taxes. Also watch you car registration, the IRS can put a lean against your tags as well. Good Luck To the top reply: Depending on what state you are in. Default or not the IRS can do anything they want. Thats the issue itself!!!!!!!!!!!!!!!!!1
2007-03-05 05:33:19 · answer #3 · answered by Anonymous · 0⤊ 3⤋
The IRS can do anything it wants. You've got to pay your money to the IRS first. You don't want to get in trouble with those guys
2007-03-05 05:27:09 · answer #4 · answered by Anonymous · 0⤊ 3⤋