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Typically, federal student loan debt forgiven under certain programs—like income-driven repayment (IDR) plans—counts as taxable income, meaning borrowers who get relief will likely have a ...
A spokesperson for the Indiana Department of Revenue confirmed to NBC News that its residents will owe up to $323 for $10,000 in student loan forgiveness and $646 for $20,000 in student loan ...
The states are considering taxing up to $10,000 in forgiven student loan debt as income, according to a preliminary report from The Tax Foundation.
Loans discharged that were not the result of long-term public service employment constitute taxable income. Student loan borrowers may have their existing federal student loan debt removed if they can prove that their school misled them. The program is called Borrower Defense to Repayment or Borrower Defense. [74]
Illinois Teachers Loan Repayment Program, ... Plus, Maine’s Student Loan Repayment Tax Credit (formerly known as the Opportunity Maine Tax Credit) is an income tax credit for qualifying Maine ...
One of the hot topics after the Biden administration unveiled its student loan forgiveness plan last week was how canceled debt might impact borrowers' income tax returns. The details are still not...
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