Student Loan Forgiveness Becomes Taxable Again in US
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- •Student loan forgiveness is now considered taxable income by the IRS.
- •Borrowers with forgiven debt may owe substantial federal taxes.
- •The policy reversal affects loans forgiven after a specific date in 2026.
- •Taxpayers need to prepare for possible large tax bills related to forgiven loans.
What Could Happen If...
- ▸If borrowers do not adjust their tax planning for the taxable forgiveness they may face unexpected large tax bills, causing financial strain for individuals with forgiven loans.
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