Welcome Guest. Register Now!  



Reply
 
LinkBack Thread Tools Search this Thread Display Modes
  #1 (permalink)  
Old 09-09-2015, 11:53 AM
Junior Member
 
Join Date: Sep 2015
Posts: 1
Will the IRS intercept my tax refund if I claim my adult student child as a dependent if she is in arrears on her federal student loan?

Will the IRS intercept my tax refund if I claim my adult student child as a dependent if she is in arrears on her federal student loan?



Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote
  #2 (permalink)  
Old 09-09-2015, 05:22 PM
Moderator
 
Join Date: Oct 2010
Posts: 5,258
Quote:
Originally Posted by rickrice View Post
Will the IRS intercept my tax refund if I claim my adult student child as a dependent if she is in arrears on her federal student loan?
It depends ; the IRS can not have your refund taken to satisfy a debt you are not legally liable for;HOWEVER, if the student loan in question is a PLUS loan where you borrow money to use for the dependent's edu expenses, and you are in default of that loan, then you are legally liable for the loan and the refund could be seized.



Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote
Ads
Reply



Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Is a gift made from an educational trust on behalf of a student considered income to the student? taxboy9317 Miscellaneous 5 02-15-2014 01:36 AM
Can they hold my tax return because of a federal student loan? collagejen Miscellaneous 1 01-24-2010 11:19 AM
college student under age 24-claim as dependent? nymbeaches Income 0 10-23-2009 06:18 PM
What Qualifies for Federal Student Loan Consolidation? TaxGuru Education Planning 0 06-11-2009 11:19 PM
What is meant by Federal Student Loan Consolidation? TaxGuru Education Planning 0 06-11-2009 11:14 PM

Follow us on Facebook Follow us on Twitter Google Buzz Rss Feeds

» Categories
 
Individual
 » Income
 » IRA/Sep
 » Medical
 
Corporations
 » Payroll
 
Forum for CPAs
 
Financial Planning
 
 
 

» Recent Tax Q&A
No Threads to Display.