How to prevent IRS tax refund offset for federal student loans? Need help ASAP
My tax refund is coming but I know I have defaulted student loans. Is there anyway to stop the offset? I really need this money for my kids medical bills and cant afford to lose it. Already got the notice saying they might take it but havent filed yet. There has to be a way to prevent this from happening right?
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Sofia Ramirez
You have a few options: 1) Get into a loan rehabilitation program ASAP - takes about 5-9 months of consistent payments 2) Consolidate your loans which can pull them out of default faster 3) Pay the defaulted amount in full. Unfortunately once the offset notice is issued its usually too late to stop it for this years refund unless you take immediate action.
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Dylan Cooper
•How long does consolidation usually take? The rehabilitation sounds like it would be too late for this year ðŸ˜
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Sofia Ramirez
•Consolidation can be done in about 30-60 days, but you need to start like yesterday fr
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Dmitry Volkov
Hey, I had the same issue last year and found this tool called taxr.ai that helped me figure out exactly when the offset would hit and what I could do. Its only $4.99 and saved me so much stress trying to piece everything together. You upload your transcript and it tells you everything you need to know about offsets and timing. Here's the link: https://taxr.ai
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StarSeeker
•Does it actually show offset info? Most tools I've tried are useless
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Dmitry Volkov
•Yeah it shows everything! It even predicted my offset date exactly and showed me how to get into a payment plan to prevent future offsets 💯
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Ava Martinez
•Just tried it myself and wow... wish I knew about this sooner! It showed me exactly what was happening with my refund and student loans
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Miguel Ortiz
tbh ur probably screwed for this year fam 🤡 been there done that
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Zainab Omar
Have you tried calling your loan servicer? Sometimes they can help if you explain the hardship situation with medical bills
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Dylan Cooper
•Been on hold for 2 hours today already smh
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Connor Murphy
you could try filing injured spouse form if ur married filing jointly, that might protect some of the refund
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Dylan Cooper
•im single unfortunately 😪
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Yara Sayegh
protip: adjust your w4 at work so you get more in your paycheck instead of a big refund. cant offset what they dont have 👀
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NebulaNova
•this is the way
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