Tax Resolution Attorney John P. Willis Writes About The Double Gift The IRS Bestowed On Borrowers Of Federal Student Loans.
Tax resolution attorney John Willis, CEO, and founder of IRSALLSTAR, relates the additional federal tax benefits of the recently announced federal student loan forgiveness.
Fairhope, AL, September 19 2022: Tax Attorney John Willis, CEO and founder of IRSALLSTAR.com, recently published a blog on his website entitled “A Double Dose Of Grace Dished Out With Federal Student Loan Forgiveness.” Mr. Willis acknowledges the collective relief that must have been felt at the end of August.
Willis writes, “When you take into consideration that some people have been paying off student loans sometimes decades after they graduated, a collective cheer must have been released into the ethers on August 24th when President Biden announced plans to forgive federal student loan debts.” He adds, “Specifically, the Biden administration is cancelling up to $10,000 in federal student debt for most borrowers and up to $20,000 for Pell Grant recipients.”
Willis also notes, “In addition to the relief of having their loans discharged, the same borrowers may also enjoy the benefit of being able to avoid paying federal taxes on the loan forgiveness. Typically, the forgiveness or cancellation of a debt constitutes taxable income on the federal level.”
The entire blog can be read at: LINK HERE
ABOUT JOHN WILLIS
Mr. Willis believes strongly in supporting and representing the “underdog” and has devoted his entire professional life to protecting and defending those who need it most. As an attorney, Mr. Willis takes his role as “counselor” seriously. His knowledge, creativity and persistence are valuable assets that provide substantial benefits to his clients. He has represented individuals and businesses across the Gulf Coast for over 23 years and, he brings together an abundance of skills and experience that can be of assistance to almost anyone.
ABOUT THE IRSALLSTAR TEAM
The IRSALLSTAR team has developed a winning formula to ensure that each client’s individual needs are specifically met. Upon becoming a client of Mr. Willis’ law firm, that client’s immediate needs are assessed, and long-term goals are defined. Experienced professionals on the IRSALLSTAR team then assist each client in developing and implementing a custom-tailored game plan to provide both short-term and long-term relief from his or her serious tax problems. All firm clients are continually coached toward successful tax resolution and final victory over their challenges with the IRS and state taxing authorities. The entire blog can be found at http://irsallstar.com/blog/irs-tax-controversy-even-death-cant-stop-the-irs.php
To learn more about Mr. Willis and his law firm please visit http://irsallstar.com or call toll-free 877-254-4254.