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Will my school and medical expenses be taken out of my 2014 tax returns?
I still owe school fees and medical expenses from when I was hospitalized for an asthma attack. I am constantly receiving letters in the mail saying I owe and that the necessary steps will be taken to receive those funds. Will try be taken out of my taxes from the IRS?
4 Answers
- ?Lv 77 years agoFavorite Answer
Defaulted qualified student loans could affect your refund at some future time in your life when it is a legal collectible government debt at that time in your life.
Not the other type of debts for that purpose.
Hope that you find the above enclosed information useful. 12/30/2013
- Cathi KLv 77 years ago
No. That kind of debt cannot be taken from your tax return. They can you and have your wages garnished or bank account levied. They could write off the debt and send you a 1099C and that debt becomes taxable income.
- troLv 77 years ago
the only offset regarding your school would be your defaulted student loan
your medical expenses are your personal problems and are not paid from your possible refund
