Learn how federal tax law changes could impact your tax return in 2010 and beyond. Here is a summary of all federal tax law changes between 2010 - 2017.
If you’re struggling to pay back your federal student loans, you may want to check your eligibility for any of the federal government’s forgiveness programs.
When a target employer, before an equity acquisition, either (1) fully satisfies its PPP loan in accordance with Section 1 of theSmall Business Administration’s October 2, 2020 notice(via repayment or forgiveness in full); or (2) submits a forgiveness application and establishes an escrow acc...
In March 2022, the Biden administration ordered the Department of Veterans Affairs to simplify the way it processes requests for medical debt forgiveness. Anderson took up the challenge as leader of the VA’s Veteran Online Debt Access Project. Anderson drove progress and cooperation on an enterpris...
When the CARES Act first gave us the forgivable PPP loans, the Internal Revenue Service issued aNotice, and later aRevenue Ruling, telling us that under the normal rules in the Internal Revenue Code, payment of expenses that give rise to loan forgiveness can’t be deducted for tax purposes....
PAYCHECK PROTECTION PROGRAM The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) created funding for the Small Business Administration's (SBA) loan program providing forgiveness of up to the full principal amount of qualifying loans guaranteed under a new program called the Paycheck ...
The Tax Cuts and Jobs Act of 2017 made death and disability discharges of student loans tax-free, but only through the end of 2025. It is likely that this benefit will be extended after 2025, maybe even permanently. The forgiveness of federal student loans after 20 or 25 years in an inc...
The Liberal government plans to provide more than $1 billion in low-cost loans, grants and student loan forgiveness to expand child care across Canada. Public service The federal workforce will shrink by about 5,000 full-time employees because of "natural attrition" over the...
sells the loan to the SBA to realize on the SBA guarantee. The maturity date of the PPPLF’s extension of credit also will be accelerated to the extent of any loan forgiveness reimbursement received by the eligible borrower from the SBA. A PPP loan will be assigned a risk weig...
Direct consolidation loan Note that a provision in theAmerican Rescue Planmakesall student loan forgivenessfederally tax-free from Jan. 1, 2021, to Dec. 31, 2025. Some states may tax the amount of a student loan forgiven as income. Direct Subsidized Loans These loans are given to students de...