I know that a student loan place can put a withholding against your taxes (and they'll take them), but the question I have is are they allowed to take ALL of your return? Or can they just touch the actual taxes withheld from your check? I'm asking because I'm not sure if I would still get my earned income credit.
2007-04-23 08:05:13 · 7 answers · asked by riderchick 4 in Business & Finance ➔ Taxes ➔ United States
They can take EVERY dollar in your refund check, including any EITC payments that you may be entitled to.
2007-04-23 08:08:53 · answer #1 · answered by Bostonian In MO 7 · 3⤊ 0⤋
The Treasury Offset Program is operated by the FMS (financial management service). The IRS only tells them the total amount of the refund, your name, and your SSN. They don't know or care if any or all of your refund results from the EIC. If your refund is offset, they will take everything up to the amount owed.
2007-04-23 20:07:56 · answer #2 · answered by STEVEN F 7 · 0⤊ 0⤋
All of your refund can be taken for a student loan that is in default. If there is any refund left after the loan has been paid, the balance will be paid to you.
2007-04-23 15:09:04 · answer #3 · answered by ninasgramma 7 · 2⤊ 0⤋
They can take all of your return, including EIC, up to the amount that you owe them - this would include not only the remaining principal amount, but also interest, penalties and fees that have accumulated. So if your debt is high enough, don't be looking for your EIC.
2007-04-23 17:13:45 · answer #4 · answered by Judy 7 · 1⤊ 0⤋
you may have to write in a letter telling them why you need them like for instance lack of income or desperate times something to that effect. they will send you something i know i did it 3 years ago, but if you dont have kids i dont know if you get anything back i do so i told them i was in dire straights.
2007-05-01 09:49:21 · answer #5 · answered by cyndi c 1 · 0⤊ 0⤋
The answer is all of your refund.
2007-04-23 15:08:54 · answer #6 · answered by Still reading 6 · 1⤊ 0⤋
i woud say all
2007-05-01 09:01:33 · answer #7 · answered by richard d 1 · 0⤊ 0⤋