If you owe money on student loans can the government take your Earned Income Tax Credit? My Loans are deferred?

My Loans are deferred Asked by csc2345 26 months ago Similar questions: owe money student loans government Earned Income Tax Credit Loans deferred Business > Financial Planning.

Similar questions: owe money student loans government Earned Income Tax Credit Loans deferred.

They not only can, they will. But the IRS only goes after those who have openly defaulted on their student loans, a status which can take a while to achieve.

That depends on how you get it. If you just apply the credit at the end of the year, and try to use it to get a refund, then, yes, they can seize it to satisfy your defaulted student loans. HOWEVER, if you have your employer take out less taxes, and have the employer apply the advance IEC against your weekly or biweekly paycheck, then you can get the entire credit before tax time and it will not then be applied against your student loans.

A word of advice - do what you need to to get the student loans paid off or settled as soon as you can - I know this will be tough, but they almost never go away, and if you’re not careful, they’ll be waiting for you, with inteterest and collection costs when you retire and try to collect social security.

1 They can take any money they want...I didn't get a tax return 3 years in a row, paying off old student loans .

They can take any money they want...I didn't get a tax return 3 years in a row, paying off old student loans.

If so, they won't touch it for that reason, but they may have others. Deferred simply means you are off the hook until you graduate or quit school, with a short grace period between. If you are beyond that, yes they can, as Vil says, take what they want.

Good luck.

3 mahalo.com/how-to-defer-student-loansTells you all about when you have to pay back the money, and exactly what deferred is.

mahalo.com/how-to-defer-student-loansTells you all about when you have to pay back the money, and exactly what deferred is.

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Questions about Student loans and Sallie mae!

If I owe unemployment will they take my income tax check.

I receive the earned income credit at tax time. Will I still be able to file for the first time home buyers tax credit?

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