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

    Apr 3, 2014, 09:48 AM
    Can IRS take money from my school loan disbursement?
    I am currently being audited, I havae until the 21st of April to submit my evidence.
    I am due a school loan disbursement on the 15th of this month. Will IRS put a hold on my disbursement?
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #2

    Apr 3, 2014, 11:39 AM
    No, because the loan is NOT considered to be income, but rather a loan that eventually will be paid back with interest.
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