Getting Your Student Loan Tax Offsets BACK!

Congratulations! You’re almost finished with our Free 5 Day Mini-Course Lessons! There’s only 2 lessons left to go, and today I’m going to give each and everyone of you a special treat for making it this far. Now that you’ve learned how to prevent your tax returns from being taken due to your Defaulted Federal Student Loan, I’m going to teach you exactly how you can get back some of your tax money that they’ve taken from you in the past! This is exactly why I’ve been overly preaching for you to go in with the “right mentality” when preventing tax offsets.

If you were wise, you took my advice. If you took my advice, you should be using the money that they were going to take from you anyways to get out of default (Coming in Mini-Course Lesson#5). I know this is easier said than done, especially for those of you who had prior engagements with your tax money, but there is a SIGNIFICANT REWARD once your student loans are no longer in default! That reward is, the return of your previous tax returns which were seized! Like I said, your student loans must be out of default and back in good standings in order for you to do this. (Return to this Lesson when your loans are OUT of Default)

Please read this disclaimer before continuing:

All of the information contained in this publication is true and accurate according to the best information available to me at the time of publication. Please understand, however, that laws and credit industry practices and procedures are constantly evolving; so you should independently update laws, practices and facts before you take action. I do not accept any responsibility for errors or mistakes of any kind, or for any damages or losses that might result from the use of any information provided. Also, I am not a lender, or a credit reporting agency. I am not an accountant or an attorney, and nothing in these materials is intended as professional advice. It is personal opinion only. I am providing it to you without any warranties or guarantees whatsoever. To obtain advice as to the tax or legal consequences of any action covered in these materials, or any action that you might consider based on these materials, you should consult an attorney, an accountant, or both. What I have tried to do here is simply offer solid, useful information that I have obtained through my own personal and business experience. Any action you choose to take based on any information that I provide, including forms and other attachments, is entirely your responsibility.

How Can I Get Back My Old Tax Returns That Were Taken?

Congratulations! Your Federal Student Loans are now out of default! As icing on the cake, I’m going to give you another FREE BONUS! That bonus is your old tax returns! Remember all the heart and headaches you endured every time your tax money was taken? I didn’t mean to bring that up those hard times but I did it so you can start expecting the exact opposite feelings because I’m going to teach you how you can get them back! The first question probably going through your head right now is, “How can I possibly get my taxes back?” Well, I’m here to tell you why. Those of you who have thoroughly gone through the Student Loan Blue Print know that one of the most detrimental factors of having your taxes taken, is where your money is applied. Defaulted Federal Student Loan Tax Offset payments are always applied towards the interest on your loan before the principle. This is one of the many reasons your student loan doesn’t get paid down even though you may have paid THOUSANDS!

However for once, we will finally get to use their own system against them! There’s probably only 1 out of every thousand student loan borrowers getting out of default that will use my tactic. Everyone else just gives away hundreds and thousands of dollars to the U.S. Department of Education. Don’t be part of the 9999 people and give away your hard earned money. Be the one that gets it back! I’m not sure why all these people don’t simply just put 2 and 2 together. Any payments made towards student loan interest is TAX DEDUCTIBLE! Let’s get started on this step to step lesson so you can get started on getting your seized tax returns from the past, BACK.

Step 1:

Go ahead and pull out all of your tax documents from previous years.

If you can’t locate your previous tax return docs you can easily request a free transcript from the IRS using Form 4506-T (shown below). To make things easier for you, you’ll just need to click on the picture of the form below to print it out.

Step 2:

On a separate piece of paper, start writing down and listing all the tax returns you had offset due to your defaulted student loan starting from year 1.

Step 3:

Get a copy of IRS Form 1040X (shown below). To make things easier for you, you’ll just need to click on the picture of the form below to print it out.

Step 4:

Now start amending the 1st tax return that was offset for your defaulted student loan.

Simply subtract the amount taken from your first federal student loan tax offset from your old Adjusted Gross Income (AGI). The difference is ultimately your NEW Adjusted Gross Income (AGI) so fill in the figure you got on the form
Continue filling out the form with ALL of your applicable information.

Step 5:

Near the bottom of the page (see below) you’ll see a box asking you for an explanation of change.

Your reason of change should be, “Student loan interest payment in the amount of $####.## (the amount taken from you that year)-on file with the IRS.”