Thus, based on Michigan’s statutory conformity to the IRC — which excludes student loan forgiveness from gross income under IRC 108(f)(5) — student loan forgiveness will not be subject to income tax in Michigan. For the reason that this exclusion will be reflected in federal AGI that is utilized as the starting point of the Michigan annual t
For borrowers without the need of world wide web access, the department is in the procedure of converting the on the web type to a paper copy that can be mailed in. In August, the federal government announced the a single-time debt cancellation and what it referred to as a "final extension" of the payment pause. A year earlier, the government said&
The Department of Education is now functioning with the Department of Defense to automatically match data across the two agencies, said a department spokesperson — which could finish borrowers’ struggle to get signatures. And it’s collaborating with advocates on permanent regulations that could assistance far more borrowers qualify following