282 🧐 Help! I Can't Pay My Student Loans!! (media.greatawakening.win) posted 1 year ago by Jak4 1 year ago by Jak4 +285 / -3 78 comments download share 78 comments share download save hide report block hide replies
The government forgiving loans is not taxable income
You may be right, It appears that the Fed may exclude taxes, but I haven't seen it in writing. There are approximately 13 states that have indicated that they will tax it as income: most notable is Hawaii at 10%. Notes I have seen say that in general, the IRS does tax this sort of measure unless specifically told not to. We will see. https://www.forbes.com/sites/adamminsky/2022/08/29/bidens-student-loan-forgiveness-could-be-taxable-in-some-states/?sh=41acb53b67fb
Didn’t know that about the states deciding that as taxable income, great point