child support

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Tax Offset

(Also know as tax intercept) When the obligor's income tax refund check (Federal or State) has been taken by child support to pay an arrearage (back support).

Question: How can you recover funds from a tax offset? I've had my tax refund "garnished" or offset. I had an outstanding student loan for about $9000. I would like to pay it. Just not quite like this. I am in desperate need of these funds (Which they managed to get $3,200 of my refund for themselves). I've heard I can write a letter of hardship or something like this. What options do I have and what is the best possible thing to do so I may see my $3,200 again?

Answer: I work for a student loan company (though not for the collections department). To my knowledge you can't. They give you enough time (ayear before default and however much time before the garnishment) that if you haven't set up payment arrangements by then then that is the only option. My best advice would to set up payment arrangements with the collection agency soon, for the rest of the balance, otherwise they will start garnishing wages as well. Sorry, I wish I had a better answer.

 


Tax Offset Related Products and News

Sydney Morning Herald

Make sure you've got your tax ducks in a row
Sydney Morning Herald
 

KFOX El Paso

UMC proposes tax increase to offset multimillion-dollar budget deficit
KFOX El Paso
 

Library seeks tax hike to help offset revenue losses, maintain services

Clarkston News
July 30, 2014 - (Editor's Note: Here's a recap of why the Oxford Public Library is requesting a tax increase from a story we wrote in April.) A 10-year, 0.4518-mill property tax increase is being requested by the Oxford Public Library on the Aug. 5 ...
 

The evidence mounts

The Economist (blog)
Because the tax must, by law in BC, be revenue-neutral, the province has cut income and corporate taxes to offset the revenue it gets from taxing carbon. BC now has the lowest personal income tax rate in Canada and one of the lowest corporate rates in ...
 

Mac Rumors

Institute: Oklahoma tax holiday is little relief
seattlepi.com
 

The IMF Wants Your Gas to Be More Expensive

National Journal
The revenue raised could also be used to offset taxes on income, pay down public debt, or address income inequality, she said. The report measures the impact of tax reform on 156 countries, noting that the energy tax reform would allow some countries ...
 

The Australian Financial Review

Japan's Tax Hike Eclipses Apple and Amazon's Rising Sun
Bloomberg
 

Wall Street Journal

Voices: Mike Miroballi, on Tax-Smart Investment Strategies
Wall Street Journal
 

CNNMoney

Wall Street wants tax holiday to be a QE4
CNNMoney
 

Massachusetts mulls tax credit to offset medical device tax

OrthoSpineNews
As part of the Commonwealth's fiscal 2015 budget, Patrick is charging the secretaries of administration & finance and housing & economic development with chairing the commission. The panel is slated to examine the potential cost of an offset, its ...