Taxpayer asks:
I had to file bankruptcy in 2005 due to medical reasons. I have student loans that need to be repaid however I cannot get a job due to my medical condition and now the irs is keeping every penny that I should get back in order to settle my student loans. Is there any way to work with the irs to cut this debt and get out from under it.
Thanks for your help.
Taxgirl says:
To be clear, your debt is not with the IRS. The IRS is simply responding to an Offset Program. The IRS has no authority to work out any kind of payment plan with you for your student loans.
I would advise you to contact the agency or bank that holds your loan and see what you can work out on that end.
Good luck!
Like any good lawyer, I need to add a disclaimer: Unfortunately, it is impossible to give comprehensive tax advice over the internet, no matter how well researched or written. Before relying on any information given on this site, contact a tax professional to discuss your particular situation.
Have a question? Ask the taxgirl!
–
This post is part of the b5media Business Channel Great Blog Off! Find out more about the Blog Off here.
The Business Channel is supporting Accion International for the Great Blog Off. You can make a donation directly to Accion. Donations are, of course, tax deductible.
