I really need to figure out how Im going to file my taxes. MFT or MFS by April 14th. I have both saved on my computer.
If I file MFT, my tax bill is a couple hundred. But I don't know how long the SAVE situation is going to be in limbo or what options we have. I don't know if repaye will be an option. If we will be in forbearance longer. I just don't know.
If I file MFS, my tax burden goes up by $5k.
This entire loan was about to be forgiven due to age of the loan. One of them was, this one got caught in the court case before the letter was mailed. I'm very bitter and want to give the bare minimum until I get enough months to buy back for my PSLF.
Do you think we will get info on SAVE before April 14?
byu/katmom1969 inStudentLoans
Posted by katmom1969
6 Comments
Does MFS save you more than $420/month in loan payments?
No one knows, unfortunately. I would be cautious and assume you have to switch plans sometime before the next time you file taxes.
REPAYE is dead along with SAVE.
Also buyback is based on your income during the periods you are buying back. They will ask for relevant tax information if necessary. So how you file now can affect your buyback calculation later.
You’re asking us to read the tea leaves, but I don’t believe so.
File separate, then amend your return later if you have to
dude just request an extension. Anyone with a real strategy has done so
no lol they’re too focused on blowing up little girls in the middle east