I have a student loan debt offset. Can the IRS take this debt out of my refund money, including the amount I receive for the Earned Income Credit (EIC)?
Yes. If you have student loan debt, the IRS can use all or part of your tax refund money to offset unpaid tax liabilities. This can include the Earned Income Credit (EIC).You will receive a notice, however, to let you know that your refund will be offset. The notice will show your original refund amount, your offset amount, the agency that the offset was paid to, and its address and telephone number. If you receive this notice and have questions, contact that agency directly.
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Our Tax Pro’s at H&R Block have prepared expert tips to help guard your consumer data in honor of Tax Identity Theft Awareness Week. Visit our blog for more details.
Since Dia de Reyes is a time for gift-giving and celebration, why not teach your kids about money during the holiday? Learn how at H&R Block.