Defaulted loan and tax return?
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My husband and I are filing our tax returns separately. I have a student loan that is in default. Can my husbands refund be taken by the IRS because of my loan. This is our first year being married so I was curious. Thanks.
Defaulted loan and tax return?They should only be able to seize your refund, not his. You could still file jointly and your husband could file as injured spouse. With that form, it will separate your income and refund amounts. Also, if there are any children, you can specify who has the right to claim them.
Check the IRS website for more information on Injured Spouse.
www.irs.gov
Defaulted loan and tax return?ask a CPA or tax specialist. to make sure
Defaulted loan and tax return?I dont think so.
Defaulted loan and tax return?the loan is in your name so they shouldnt go after him however it will affect his ability to borrow in the future
Defaulted loan and tax return?Doubtful since the loan was originated before the marriage and probably in your maiden name.
Defaulted loan and tax return?Since the loan is in your name only and you are filing seperately, they should only be able to touch your check.
Defaulted loan and tax return?Because many of the tax benefits are eliminated without filing jointly what i would suggest is for you guys to file married filling joint and him to file as an injured spouse that will allow him to get all of the refund that is due to him without them seizing it. If you have any kids make sure you assign them as belonging to him so he will get the tax benefits. It takes longer for the IRS to process the return but its worth it in the long run.
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