Posted on 08/24/2022 11:49:36 AM PDT by 1Old Pro
“I didn’t go to college but I worked my way up and make a decent living. I got ZERO handouts. Where is my ‘forgiveness’”
Ditto, except that I did GO to college, but did not graduate. Now the decent living that I/ME/MYSELF made is supporting lay-abouts and ne’er-do-wells. But I’m not resentful. /s
I have heard elsewhere that these people will get a 1099 for the forgiven debt, and will have to pay taxes on it as income.
Is this true?
_____________________________________________________________
SILENCE!!!
That part must not be mentioned until after the mid-term elections.
from the speech “Thanks to the American Rescue Plan, this debt relief will not be treated as taxable income for the federal income tax purposes.”
smoke and mirrors
A CPA friend of mine who is 83. He still works tax season hours and in general year round. He went to UNC - Chapel Hill (it wasn’t a lib crap hole back then). Before his last year he was out of money. He and his brother gathered up their pool sticks and hustled billiards to gather his final year tuition. Wonderful story and a great CPA.
Throw Banana
Sugar. Buying time
Worthless. Banks will never let these gullibles off the yolk.
Mitch and co. All in
I will ask them if they had 10K of their student debt forgiven, if they say yes I will say, great, NO TIP for you.
10K of their student debt forgiven
/\
\/
Imagine the surprise when they find out they will owe tax on the amount forgiven at the point of a gun of one of those new 87000 irs agents with shoot to kill authority ?
Oooops.
They would have been better of paying the monthly payment, cuz the irs is gonna want their full amount all at once.
They already did.
Remember 9/11 2016 the incident with Hillary! and the Scooby van.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.