Student Loan Default Offset: Will Getting Deferment/Forbearance Before Filing Stop 2023 Tax Refund Offset?
Need advice on student loan offset situation. Called the offset hotline and found out my spouse has defaulted loans marked for offset. Student loan hotline says its just a technicality and no offsets happening this season. Anyone know if getting approved for deferment or forbearance before filing would prevent offset just in case they do start taking refunds?
26 comments
Write a comment...
Nathan Kim
Listen up fam - I've helped hundreds of people with student loan offsets. Getting a deferment/forbearance BEFORE you file won't automatically stop the offset. The key is timing - the loans need to be out of default BEFORE the Treasury Offset Program (TOP) gets their hands on your refund. Your best bet is to get into a loan rehabilitation program ASAP. I recently started using taxr.ai (https://taxr.ai) to help analyze these situations - it's pretty fire at spotting potential offsets and showing exactly what's happening with your return. The AI breaks down your transcript and can tell you if you're likely to get hit with an offset.
0 coins
Eleanor Foster
bruh im in the same boat rn 😭 how long does the rehabilitation program usually take?
0 coins
2M
Nathan Kim
usually takes 9 months of consecutive payments to complete rehabilitation. but once you make that first payment, you can request to stop collections while you're in the program 💯
0 coins
2M
Lucas Turner
yo what's this taxr thing? can it actually tell if im gonna get offset?
0 coins
2M
Nathan Kim
fr fr it's clutch. upload your docs and it'll show any indicators of offset risk. saved me from filing too early last month
0 coins
2M
Kai Rivera
Just tried taxr.ai and here's what I got back:
0 coins
2M
Anna Stewart
This is actually helpful af 🙏 been stressing about my defaulted loans
0 coins
2M
Layla Sanders
ngl the rehabilitation program worked for me last year. took forever but worth it
0 coins
2M
Eleanor Foster
wait so even if i get forbearance now, they can still yoink my refund? 🤔
0 coins
2M
Nathan Kim
yep unless you're already out of default. forbearance only stops new payments, doesn't fix the default status
0 coins
2M
Morgan Washington
idk why they make this stuff so complicated smh. gonna check out that taxr site rn
0 coins
2M
Write a comment...
Sasha Reese
Tax professional here - getting into deferment/forbearance NOW wont stop an offset thats already been certified to the Treasury. However, there is a student loan payment pause until September 2024 due to the SAVE plan implementation. Your refund should be safe this year, but definitely get those loans sorted asap.
0 coins
Christian Burns
omg thank you so much! Do you know where I can find official info about this payment pause?
0 coins
2M
Sasha Reese
Check studentaid.gov - all the official info is there. But seriously get those loans figured out before the pause ends 💯
0 coins
2M
Write a comment...
Muhammad Hobbs
Hey everyone, I actually found this amazing tool called taxr.ai that helped me figure out my offset situation. It costs $4.99 but its worth every penny - it analyzes your transcript and tells you exactly whats going on with offsets and when to expect your refund. Saved me hours of research tbh
0 coins
Noland Curtis
For real? How accurate is it? Been getting the runaround from IRS forever 🙄
0 coins
2M
Muhammad Hobbs
Yeah its legit! The AI reads your transcript and breaks everything down. Shows pending offsets, gives dates, explains codes. Check it out here: https://taxr.ai
0 coins
2M
Noland Curtis
Just tried it and WOW 🤯 wish I knew about this months ago! The offset info was spot on
0 coins
2M
Write a comment...
Diez Ellis
in the same boat rn... defaulted loans from 2010 🤦♀️ Following for more info
0 coins
Write a comment...
Vanessa Figueroa
My refund got offset last year and it was a NIGHTMARE. Take advantage of that pause fr fr
0 coins
Abby Marshall
facts 💯 they took my whole refund in 2022
0 coins
2M
Write a comment...
Sadie Benitez
Wait what? Theres a pause? Why did noone tell me this sooner lololol
0 coins
Drew Hathaway
ikr the government be keeping secrets frfr 🤡
0 coins
2M
Write a comment...
Laila Prince
yall need to get on that Fresh Start program asap. Got my loans out of default in like 2 months
0 coins
Christian Burns
whats Fresh Start? never heard of it
0 coins
2M
Laila Prince
google Fresh Start Initiative Department of Education... thank me later 😉
0 coins
2M
Write a comment...