Student loans

The American Institute CPAs, the National Association of State Boards of Accountancy and state CPA societies voiced their objections to a government proposal.

Borrowers who receive discharges of their student debt under the Income-Driven Repayment program could be facing tax bills as high as $10,000 next year.

The bill limits how much students and their parents can borrow for college from the government.

The U.S. Department of Education plans to resume collecting defaulted student loans on May 5 after a years-long pause that began with the pandemic.

The guidance in Notice 2024-63 is for employers that want to employees' student loan payments.

Educational assistance programs can help employees cope with the resumption of payments through a tax-free fringe benefit.

The justices, voting 6-3 along ideological lines, sided with six Republican-led states that sued to challenge the program.

The New Jersey Society of CPAs announced 10 winners of its student loan debt lottery, with each receiving $1,200 toward their student loan debt.

If the program ultimately moves forward, tax professionals should know about the rules when advising their clients.

Top 25 firm Withum awarded $95,000 in grant funding through the Thomas R. Suarez Student Loan Grant program to help its employees reimburse their student loans. 

Forgiveness; great sums of money; shell game; and other highlights from our favorite tax bloggers.

Surpluses and cuts; the CP80 mess; cost of ‘skin in the game;’ and other highlights from our favorite tax bloggers.

Just a little off; handling online reviews; a star EA; and other highlights from our favorite tax bloggers.

Basis debate; relief to come; underreporting and the gap; and other highlights from our favorite tax bloggers.

Thanks to vagaries of the accounting world, Donald Trump’s administration had a chance in the final weeks of the presidential race to cancel more than $200 billion of student loans with no immediate hit to the Department of Education’s massive portfolio. Yet it didn’t do it. Now, perhaps Joe Biden will.

President Joe Biden plans to extend a freeze on federal student-loan repayments until at least the end of September, keeping in place a pandemic measure that’s reduced costs for tens of millions of borrowers.

The Internal Revenue Service and the Treasury Department are offering a safe harbor to provide relief to taxpayers who borrowed money to attend a nonprofit or for-profit school and had their student loan debts discharged.

French lessons; our tax system, by the numbers; return of the 1099-NEC; and other highlights from our favorite tax bloggers.

Secretary of Education Betsy DeVos is calling on Congress to allow the Internal Revenue Service to give the Department of Education information on the income of student loan borrowers, warning that student loan applicants are misrepresenting their income and family size to qualify for reduced payment plans.

Democratic presidential hopeful Bernie Sanders will propose canceling the nation’s outstanding $1.6 trillion of student debt and offsetting the cost with a tax on Wall Street transactions.