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Creditor to IRS

This is one of those, "I don't feel that great even asking this question, but I will anyway". T/P files return, resulting in overpayment of $1000, should get refund. IRS sends $1000 to college as satisfaction of school loan. Later, Amended Return for unintentionally Underreported Income is filed, resulting in T/P actually owing $500. Therefore $1500 is due the IRS. Is there any way T/P can pay IRS $500 and have the college pay back the IRS the $1000 that had been sent to them "in error"? Some simplification done here, but actual situation. Thanks.

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Reply to
Pats Fan
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But you have raised a critical issue that applies to many situations both Federal and State for a variety of debts. Unfortunately you been had!

The only solution I know is tax planning so it does not happen again.

Dick

Reply to
Dick Adams

This may be a good time to talk about Santa Claus and the Easter Bunny.

Reply to
Mike Wellman

No

Reply to
Taxmanhog

Nope.

Reply to
Bill Brown

The student loan repayment request is processed by Financial Mamagement, an entirely separate Treasury Department organization. IRS has responded to an order from FMS to offset the refund and forward the amount to them.

That's money is long gone. Might even have been repaid to lender by now.

IRS is out of the picture unless there is a balance remaining for further offset.

So at least some of the student loan has been repaid.

__ Art Kamlet ArtKamlet @ AOL.com Columbus OH K2PZH

Reply to
Arthur Kamlet

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