A small but significant provision in the stimulus package signed by President Biden will temporarily exclude forgiven student loans from taxes, a move that could make it easier for Biden to forgive some student debts.
[Stay on top of all the new stimulus bill developments – Sign up for the Kiplinger Today E-Newsletter. It's FREE!]
Student Loan Forgiveness Won’t Increase Your Tax Bill
Sign up for Kiplinger’s Free E-Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
Tax Relief for Cancelled Student Loan Debt Also Includes Private Student Loans
The Tax Relief on Cancelled Student Loan Debt is Temporary
To continue reading this article
please register for free
This is different from signing in to your print subscription
Why am I seeing this? Find out more here
-
Biden Proposes New Homebuyer Tax CreditsTax Credits President Biden is calling for new middle-class tax breaks including a mortgage tax credit.
-
Will Retirees Stop Paying Tax on Social Security Next Year?Social Security Lawmakers have proposed to eliminate taxes on Social Security benefits. Here’s what that could mean for you.
-
Families and Businesses Would Get Big Tax Breaks in Bipartisan Tax DealTax Changes A new bipartisan tax deal could change the child tax credit, R&D expensing, and the employee retention tax credit.
-
What's Happening With the New Child Tax Credit?Child Tax Credit The Senate hasn't passed the new child tax credit. Will it happen before the end of the filing season?
-
Social Media, Guns, Taxes, Abortion: New Supreme Court Cases You Need to KnowSupreme Court The U.S. Supreme Court will hear several cases this fall that could significantly impact your rights and wealth. Here are a few of them to watch.
-
What Would a Government Shutdown Do to the IRS?IRS With a government shutdown looming, some wonder how IRS operations will be affected.
-
How Three New Supreme Court Rulings Impact Your MoneySupreme Court U.S. Supreme Court decisions could directly impact your bank account privacy, student loan payments, home equity, and property taxes. Here’s what you need to know.
-
Businesses Would Get Lots of Tax Savings Under House GOP Plan: Kiplinger Tax LetterKiplinger Tax Letter The House GOP tax plan indicates what’s to come if Republicans control Congress and the White House after 2024.
