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View Full Version : Student loan took my tax refund


nnicknack
Feb 2, 2008, 09:45 AM
My taxes were taken by my student loan company a couple of years ago. I didn't claim any taxes last year. What are the chances that they will take anything this year? The full amount of the loan was about $8,000. The tax amount taken was about $3500. I would only be claiming one child and not getting a lot back.

oneguyinohio
Feb 2, 2008, 09:48 AM
You need to file regardless if you get anything back or not. There could be some stiff tax penalties if you don't. The trouble with those loans is that the amount can grow quickly from all sorts of added charges when not repaid.

s_cianci
Feb 2, 2008, 09:54 AM
Has the loan been declared a default? If so, then any tax refund that may be coming your way is subject to being intercepted to satisfy any government debt, such as a student loan. Obviously the system has caught up with you since they did it once already. That said, if the balance isn't satisfied they'll most likely do it again. But it isn't wise to not file a tax return if you're required to do so simply to prevent the intercept of your refund. You could find yourself facing charges of tax evasion.

MukatA
Feb 3, 2008, 05:00 AM
You must file all your tax returns if you meet the filing requirement.

AtlantaTaxExpert
Feb 4, 2008, 10:50 AM
Agreed. File the taxes even if the refund goes towards the loan.

You MAY get the state refund, but I would not count on it.

PrincessLindy
Feb 9, 2008, 02:01 PM
I had the same problems for a few years. They took my federal refund but not the state. As it was a federally funded loan. And unless you are making paments on the loan yes they will take it from you. I finally started making payments on mine and then they turned it over to Chase student loans and now I pay regularly and the payments are not a gigantic amount and I am now eligible for the refund.

AtlantaTaxExpert
Feb 15, 2008, 12:47 PM
Noted!