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    bgrunden's Avatar
    bgrunden Posts: 1, Reputation: 1
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    #1

    May 15, 2010, 06:13 PM
    Can IRS take student loan money
    I owe back taxes. I am a full time student. My only income is Montgomery GI bill money, which is not taxable and student loans. Can the IRS take this money?
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
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    #2

    May 17, 2010, 09:36 AM
    Maybe!

    It depends on whether you can show that the GI Bill money is essential to mantaining your standard of living.

    HOW MUCH do you owe in back taxes?

    Have you talked to the IRS about putting the tax collection actions in abeyance until you complete your schooling, then setting up a payment plan?
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