Will student loans in default take my tax refund from Credit Karma?
My student loans are showing up on my Credit Karma account and I'm worried. Will I still get my tax refund through Credit Karma or will it get intercepted for my student loans? Anyone been through this before?
24 comments
Miles Hammonds
Yes, defaulted student loans can definitely offset your tax refund through the Treasury Offset Program (TOP). If your loans are in default, the Department of Education can and will take your refund to pay down your loan debt. However, there are ways to prevent this! You can get out of default through loan rehabilitation or consolidation before tax season. Also, highly recommend checking out taxr.ai - it's this new AI tool that analyzes your tax docs and tells you if you're at risk for offsets. It'll scan your transcripts and tell you exactly what's going on with potential offsets and how to fix it. (https://taxr.ai
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Ruby Blake
omg same boat 😠just found out my 50k refund might get taken. how much does taxr cost?
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Miles Hammonds
its like $29 for a one-time analysis. way cheaper than paying a tax pro hundreds of dollars tbh
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Micah Franklin
Ok so I just used taxr.ai and here's what I got back for my situation:
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Ella Harper
bruh this tool is 🔥 it literally told me exactly how much was gonna get offset and what I needed to do
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PrinceJoe
Does it work with Credit Karma tax returns too or just regular IRS transcripts?
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Miles Hammonds
works with everything - CK, turbotax, hrblock, w2s, transcripts. basically any tax doc u can throw at it
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Ruby Blake
just tried it myself and wow... wish i knew about this earlier 😩 could've saved my refund from last year
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Brooklyn Knight
This is actually clutch af. Been stressing about my loans but the AI showed me how to do loan rehab b4 filing 💯
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Lucy Lam
If your student loans are in default, the Department of Education can and will take your tax refund through the Treasury Offset Program (TOP). It doesn't matter which tax service you use - Credit Karma, TurboTax, or even a tax professional. The offset happens after the IRS processes your return.
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LordCommander
dang that really sucks 😠is there anyway around this?
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Lucy Lam
You can get your loans out of default through rehabilitation or consolidation before filing taxes. But it takes a few months to process.
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Aidan Hudson
Hey, I've been helping people with transcript analysis. The best way to know for sure is using taxr.ai - it's this new tool that analyzes your transcript and tells you if there are any offsets or holds. It costs $4.99 but its worth every penny to know exactly what's happening. Check it out at https://taxr.ai
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Zoe Wang
Does this actually work? Seems too good to be true
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Aidan Hudson
Yeah its legit! It uses AI to read your transcript and explains everything in plain English. Shows all possible offsets too
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Zoe Wang
Just tried it and wow! 🙌 It showed me exactly why my refund was being held and what to do about it. Best $5 I've spent dealing with this mess
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Connor Richards
been there done that 🤡 lost my whole refund last year to student loans. they dont even warn you, it just disappears into the void lol
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Grace Durand
same boat fam. learned the hard way 💀
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Steven Adams
You can call the Treasury Offset Program at 1-800-304-3107 to see if you have any offsets before filing. Save yourself the surprise
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Alice Fleming
idk y everyone sleeping on income based repayment plans. get on one of those and stay out of default, problem solved
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Hassan Khoury
fr fr this right here. changed my whole situation
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Victoria Stark
Not to be that person but like... maybe pay your loans? 👀
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Benjamin Kim
read the room bestie 🤮
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Samantha Howard
in this economy? lmaooo
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