On August 6, 2020, the Senate adjourned without passing a stimulus package. Senate Majority Leader Mitch McConnell (R-KY) wasn’t involved in the talks, leaving Senate
Read MoreTag: student loan
IRS Offers Guidance On Tax Treatment Of Discharged Student Loans
The Internal Revenue Service (IRS) has issued guidance for some taxpayers who took out federal or private student loans to finance attendance at a nonprofit
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Congress Considers Bills To Clarify Tax Treatment Of Post-Graduation Scholarship Grants
Lives were changed during a 2019 commencement address at Morehouse College when self-made billionaire Robert F. Smith announced that he was paying the student debt for the entire
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Back To School Myths: The Student Loan Interest Deduction Is Gone
As students from elementary age to grad level across the country head back to school this month, parents are grappling with how to pay tuition,
Read MoreTaxes And Student Loan Repayment
There may be tax consequences for repaying – or not repaying – what you owe. When it comes to paying back student loans, here’s what you need to know.
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Back To School: Deducting Student Loan Interest (Even When You Don't Pay It)
As the cost of a college education continues to climb, more and more students are taking on student debt. Collectively, as a country, we currently owe nearly $1.4 trillion in student loans. That balance is growing at a rate of $2,726.27 every second. Fortunately, there’s a tax break available to help ease some of the pain of paying it back.
Read MoreBill Would Exempt Student Loan Forgiveness From Tax
As student loan debt continues to grow, Senators Bob Menendez (D-NJ) and Elizabeth Warren (D-MA) have introduced the Student Loan Tax Relief Act which would exempt discharged student loans from being taxed as income.
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Can You Be Arrested For Not Paying Your Student Loans?
What happens when you can’t pay your student loan debt? Here’s what can happen if you can’t pay (and how to avoid it in the first place).
Read MoreBack To School 2014: Deducting Student Loan Interest (Even If You Don’t Pay It)
(UPDATE: The giveaway is now closed. We have our winner! See the comments for more info.) College students depend on their parents for a lot
Read MoreBack To School: Deducting Interest Paid On Student Loans (Even If You Don’t Pay The Loans)
It’s Back To School Week on the blog! All week long, I’ll be answering your questions about school and tax – complete with fun giveaways. Next up: what about all that student loan debt? Can you get a tax break for paying it down?
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