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IRS’s ability to reach assets in student loan forgiveness

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Total Posts: 3

Joined 2016-06-12

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If my federal loans were forgiven today and I owed a tax bill on the amount forgiven, does anyone know what assets the IRS would be able to reach to satisfy the tax bill? (From what I understand, after 20 years of qualifying payments my federal loans will be forgiven, but I will be taxed on the amount forgiven as if it was income. So, if $100,000 in federal loans were forgiven and I was in 30% tax bracket, I would owe a $30,000 tax bill). 

Would they be able to reach:
1. My husband and I’s house in our joint name (My husband did not cosign on any of the loans)
2. My husband and I’s house in his name only
3. My 401K
4. My husband’s 401K
5. My husband’s state government employee retirement plan
6. Household assets (car, furniture, etc.)
7. Family farm that I co-owned with my siblings

Would this vary by state (community property versus non community property states) or not?

If you are knowledgeable about this subject, I am also interested in any other information you are able to volunteer!

Thanks!