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Message
California to Tax Biden's Student Loan Forgiveness
Posted on 9/10/22 at 9:01 pm
Posted on 9/10/22 at 9:01 pm
LINK
quote:
While some states, such as New York, have already assured residents their student debt forgiveness won't be taxed, this week California became the first state to confirm the opposite.
9
Posted on 9/10/22 at 9:04 pm to LSUDVM1999
Well the IRS should actually tax that also.
Maybe some tax guys can chime in but that would not be unusual.
Maybe some tax guys can chime in but that would not be unusual.
Posted on 9/10/22 at 9:09 pm to LSUDVM1999
ALL states should recover that state tax....
Posted on 9/10/22 at 9:17 pm to LSUDVM1999
It should be taxable on a federal and state level. Any other forgiven loan would be.
Posted on 9/10/22 at 9:22 pm to FlyingTiger1955
quote:
Any other forgiven loan would be.
Not exactly. PSLF forgiveness isn't taxable
Posted on 9/10/22 at 9:23 pm to Swazla
Debt forgiveness is almost always taxable.
Posted on 9/10/22 at 9:53 pm to Teddy Ruxpin
Why don’t you explain to everyone what PSFL is ya turd.
Posted on 9/10/22 at 9:53 pm to halleburton
quote:why dont you do your own research and find out yourself ya turd
Why don’t you explain to everyone what PSFL is ya turd.
Posted on 9/10/22 at 9:59 pm to Swazla
quote:
Well the IRS should actually tax that also
Biden’s spending bill last year carved out a few year exclusion on student loan forgiveness…no tax at the federal level
Posted on 9/10/22 at 10:00 pm to LSUDVM1999
Fine with me. California can tax it's citizens into oblivion. If they had any sense it wouldn't be a leftist shithole.
Posted on 9/10/22 at 10:21 pm to LSUDVM1999
Dont have taxes 
Posted on 9/10/22 at 11:55 pm to TuDog
quote:
Fine with me. California can tax it's citizens into oblivion. If they had any sense it wouldn't be a leftist shithole.
Mississippi was literally one of the first states to announce that they would tax this
Posted on 9/11/22 at 5:12 am to Teddy Ruxpin
quote:
Not exactly. PSLF forgiveness isn't taxable
You have to be working for a government agency, local or federal, and you have to have made 120 installments on your loan.
Not quite the same as carte blanche forgiveness, you should do your own research before posting bwana
Posted on 9/11/22 at 5:20 am to LRB1967
quote:
California can tax it's citizens
They have nice sidewalks
Posted on 9/11/22 at 6:41 am to LSUDVM1999
Of course and the IRS will as well. I got an "interest" payment from the IRS due to the delays in processing our return.
I then got an IRS notice stating I was getting taxed on it. How fricked up is that?
I then got an IRS notice stating I was getting taxed on it. How fricked up is that?
Posted on 9/11/22 at 8:06 am to LSUDVM1999
Would you rather pay taxes on 10k or pay the 10k.
Posted on 9/11/22 at 8:10 am to Armymann50
quote:
They have nice sidewalks
How do you know? You can't see them through all the fecal matter
Posted on 9/11/22 at 9:42 am to Longdriver98
No, the IRS won’t. The American Rescue Plan Act specified that any student loan forgiveness through January 2025 is not taxable. They knew what they were planning.
LINK
LINK
Posted on 9/11/22 at 9:50 am to TeaParty
The issue with this concept is that the 10k for student loans is spread out while taxes are due. If someone can’t afford a payment on 10k, do you think they can drop 2k or so on taxes for it?
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