Offset

[Silent209]

Wmr just updated for me and shows a DD of 2/22. It also shows tax topic 203 but under my refund amount it still shows the original amount. Will I be offset ?

[mermaid]

@ Jennifer Starr-

Hi!! Thanks for the tips- because I’m a new teacher, I haven’t put in enough years yet. Down the line, I will qualify for all of the programs you’ve mentioned. I do teach at a title I school and work for the state of Hawaii. Most of my loans are in good standing but there were a few that I guess were not; hence why the offset happened. I’m praying the consolidation will work out.

Hawaii definitely has a hard time recruiting and keeping teachers- no one can afford to live here comfortably on the salary we earn unless they are debt free or willing to work 3 jobs. Teaching itself is 10 jobs in one and there’s not much time left for another job to fit in since I’m still learning my craft. Once summer comes around, I’ll definitely be looking for a job to work to play catch up in lieu of not receiving my tax refund this year. So much for a trip to the mainland!!! Hopefully next year.

Good luck to everyone else and I’m so thankful for all of you on this forum to talk to!! At least I’m not alone in the struggle!!

[Jennifer Starr]

@mermaid Being a teacher, there are programs available for you to get help with your student loans. Call the DOE and find out if there are any forgiveness programs for you. Are you a Public Educator? There are many programs available for teachers in the public rather than private sector. Find out if your school is a Title I school, that would have to do with the population of “at risk” students, there are separate programs for that. Find out if the state has any programs to help you pay back Federal loans. There have been several press releases over the years about Hawaii having a hard time recruiting and keeping teachers because of the very high cost of living. Good luck!

[mermaid]

@ MISS Jae-

We all need a break!!! Finding this forum is helping me feel a lot better because there’s so many people who are dealing with unexpected offsets and trying to shift their plans around. There are also trolls on here who knock people down for not dealing with their debts but everyone has a story. We are all doing the best that we can when it comes down to it.

I wish I could say Hawaii is awesome but I’ve been here my entire life and it’s only getting harder to live here on my own. Most of my friends live crammed in a small house with a zillion family members or have roommates but I choose to live alone- that makes it a little harder on me financially but I love having my own place. I was hoping to use my refund to catch up on some bills and set some aside to take a trip to the mainland.

I lived in Seattle for a year and would give anything to go back there or to try Oregon. Hawaii is a hard place- great for vacations or for millionaires but not on families or single people just trying to make it!!

Sending you good vibes as well- I hope all works out with your financial struggles!!

[mermaid]

@ MISS Jae-
I typed out a comment and I don’t know if it posted but I’m sending you good vibes as well through all of your financial struggles!!! We all need to catch a break!!! This tax year SUCKS!

[MISS Jae]

@Mermaid
Well, you being a teacher you definitely deserve to catch a break and get your money back.
How awesome to be able to live in Hawaii!

I really hope and send good luck your way so that everything works out in your favor.

[mermaid]

@ MISS Jae-
Yes they sure do!! I’m trying to consolidate and am pretty sure it will be approved. Hopefully after the consolidation shows up on my credit report, I can fight to get my refund back. The last time I consolidated, my credit score went up several points too. I’m doing the best that I can to pay my debts but I’m a teacher and I live in Hawaii. Contrary to what people think, paradise ain’t cheap either. Just my rent alone takes almost half my salary. Add in other bills and emergency situations plus the cost of living- there’s not much left for student loan payments. Praying things work out for all of us!!!

[MISS Jae]

@Mermaid

That’s the Dept of edu for ya. There was something about student loans being switched over and now they trying to collect. I was given 65 days. Like you, the majority of my loans are good standing, IDK why the Perkins loan is separate from the rest. It’s weird.
Mines is only 1800 principal but another 1000 in interest. They really screw us don’t they.

[mermaid]

@ someone-
I’m in the same boat… I have loans that are in good standing too. Had no idea about the ones that ended up being defaulted because the lenders switched without notifying me. I already applied for consolidation and am pretty confident I’m going to get it. Once the defaulted loans are consolidated, they will technically be shown as “paid”. I’m hoping I can request to get my refund back. Saying all of my prayers because that’s my only option being single and without kids. Even though I have a job and pay my rent and other bills, I still struggle. I’m a school teacher and I live in Hawaii- after paying rent alone, I barely make it through a month. I really needed my refund and think it’s messed up how many people are getting screwed over this year because of student loans and not being notified about it by the DOE.

[someone]

Well I called that phone number thing and they told me that they are taking every dime of my tax refund for student loans that they haven’t touched for 8 years…I really needed my money this year and I’m about to have a break down because of it

[AnxiousSJRGuy]

If the offset is due to a debt that is not an IRS debt, keep in mind that a tax payer advocate cannot help in that case and you need to contact the creditor

[MISS Jae]

@Larry
I read on another thread about your offset and saw where people called tax advocates and applied for a hardship to get their return back. If your offset is only a portion of your return than you should have the balance in your account by Wednesday,and still be able to have an advocate help you if you need.

[Anonymous]

Larry,

I am by no means “rich” but have a high income. I paid over 60k in Federal/Fica this year. Tax incentives (major corporations) and tax cuts are two different things. I assure you, the higher tax brackets are paying their “fair share.”

As for the offsets, if it is a legal and justified offset, then it is a debt that is past due. Personally, if one signed for the debt, accountability should be held. Many people have federally backed loans, and if are kept current will not be coded with an offset.

If one’s goal is to avoid payments altogether, calculate the marginal tax rate and figure the end of year tax payments. Adjust the W4 adjustments to allow the monthly taxes to be removed to add up to the yearly federal requirement. One will get all their money throughout the year, and hopefully closeout with a zero balance.

[Larry huff]

Do any of you find it odd, that the year they pass HUGE tax cuts for the rich, that the poor suddenly start getting all these offsets. They’re taking the revenue that they’re losing from the rich and making us pay for it. Just my theory. First year I have EVER had a problem w my taxes

[STL2ATL]

Hey all I updated this morning with DDD for 2/27 but this is the first year I ever had a TT 203. This was also the first year I paid my fees upfront so to filter via SBTPG.

@Wick3d you said per Jessica…. I may have missed her post, what did she say?

[Momx3]

My WMR updated this morning and I don’t have any offsets but got that message. I panicked for a minute! I paid fees upfront as well. Weird.

[Virginia Moore]

Same thing for me

[Wick3d]

What ever it shows o left is what u get, if there was an offset it will show on left

Per Jessica

[Wick3d]

What ever it shows o left is what u get, if there was an offset it will show on left

Per Jessica

[aod92]

Two questions … 1) Is there anyway possible that you could have an offset?

2) Did you choose to have your bank fees and turbo tax fees deducted? Note: I used turbo tax

I know for a fact I don’t have any offsets, yet this 203 appears on my WMR. I’m starting to see a lot people start to ask this question, so I started to google and found that quite a few people saw this who had their fees bank fees and fees deducted from their federal refund. I find it hard to believe that everyone has an offset, and if you don’t have an offset that it has to do with that. Did you have your fees deducted?

https://ttlc.intuit.com/questions/4438156-tax-topic-203-is-showing-what-does-that-means

[Stacy]

Mine says the same thing and I was wondering if it meant I had an offset or if that shows up on everyone’s.

[Stephie21]

I have no offset but getting same message..

[Author]

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