₪₪₪ Will this increase my tax return? Help!?
If I am eligible to deduct student loan interest on my income tax but I’m not paying anything back (I’m getting a refund) can this still benefit me ?
Since I didn’t make too much and have to pay back but the paper states that I can deduct this loan interest (basically paying me back) wouldn’t this increase my return? I mean how can this still benefit me?
extra notes: I had no choice but to file late as I was on a payment plan with my school loans and now they finally gave me permission to file without interference.
Ok thanks VB but I have no idea about withholding. I am clueless about taxes.
All I know is that last year they took my refund because I owed a school loan then i got on payments this year and now they said they wont take them and i might be able to deduct the interest. But since I dont have to pay back I wonder if it can still benefit me? Maybe they will repay me the money they would have deducted? Does it work this way?
Category: IRS Problems
