3 Answers

I was told that I have tax refund direct deposit date of 2/8/2012 a student loan popped up under my acct.?

Asked by: bustermcleod 1587 views Tax Discussion

I was wondering does that mean they didnt take my money? I talked to a representive of the IRS and the debt collector, my funds are NOT on hold nor has the acct. Been flagged the lady who did my taxes says there has been no change to the amount I should recieve and that they would notify me by mail and WMR if such was going to happen I just went into delinquency last year after I stopped making payments everyone is saying that I should be fine since I havent been notified of a change by now and they set up a direct deposit date and my bank knows abt it…the debt collector also said they collect on taxes usually 30 days after I file but that would be the 17th not the 8th did I just luck out???

How others found here:

your tax refund is scheduled to be direct deposited on february 8 2012
tax refund not deposited 2012
when will the IRS notify me if I have an offset

3 Answers

Molly on Feb 04, 2012 reply

You’d be smart to call the offset line and see if anything is going to be deducted from your refund: 800-304-3107 The IRS will notify you by mail if your refund was offset but you might not get the letter for a couple of weeks after you were expecting your refund.

If you managed to escape this year, congrats, but your luck won’t hold out forever. You should see about a loan deferment which can postpone payments for months and even years for all types of student loans, or greatly reduce your payment based on income (for federal loans only, not for privately funded student loans). Otherwise, your refund will be offset for as many years as it takes to pay back the loan.

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Wendy on Feb 04, 2012 reply

Your student loan has nothing to do with your tax return. Unless you owe the IRS or the state agency you should receive the full amount.

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Julia H on Feb 04, 2012 reply

Wendy is incorrect. Student loans are federally backed and thus federal debt. In fact, the only entities that can offset a tax refund are debts owed for student loans, unpaid taxes, child support and the federally backed Military Star credit card. Call the offset hotline. They will be able to tell you whether or not you have an offset. If your tax return has processed, they will be able to tell you the exact amount of the offset.

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