Ask The Taxgirl: Outstanding Loans & Rebates
Taxpayer asks:
Heeello! I was wondering if it is true that my stimulus payment could be taken for outstanding hospital bills I have yet to pay? If so, “How will that help boost the economy?”
Thanks for your time…
Taxgirl says:
The short answer is no. Rebates are being withheld or reduced for federal obligations such as past due student loans, back taxes or child support payments.
However, if you owe money to the government as a result of your care, that would change my answer.
You can find more information about why your tax rebate might be smaller than anticipated at my prior post.
Before you go: be sure to read my disclaimer. Remember, I’m a lawyer and we love disclaimers.
If you have a question, here’s how to Ask The Taxgirl.
IF A PERSON DEFAULTS ON A GOVERNMENT HOME LOAN, WILL THEIR TAXES BE DECREASED BY THE TOTAL AMOUNT OF DIFFERENCE BETWEEN THE RESALE PRICE AND THE BALANCE OF THE ORIGINAL LOAN, OR IS THERE A CAP ON THAT AS TO HOW MUCH CAN BE TAKEN AND HOW OFTEN?