- Joined
- Feb 26, 2012
- Messages
- 1,992
- Reaction score
- 2,157
This article came out a couple days ago:
http://www.nytimes.com/2014/03/28/y...bill-from-the-irs.html?hpw&rref=business&_r=0
While we talk theoretically about the "tax bomb" of taxable student loan forgiveness around the year 2030, the tax bomb is actually happening today for one sad segment of society: the suddenly disabled. If through some unfortunate event you do become disabled, your student loans are (taxably) forgiven, and then you are hit with a humongous tax bill right when you can't even get a job anymore.
This situation is obviously a lot different than an employed physician getting hit with a big tax bill, but it is still a sobering look at the tax bomb and how devastating it can be. Seniors are being forced to sell their family homes, etc.
http://www.nytimes.com/2014/03/28/y...bill-from-the-irs.html?hpw&rref=business&_r=0
While we talk theoretically about the "tax bomb" of taxable student loan forgiveness around the year 2030, the tax bomb is actually happening today for one sad segment of society: the suddenly disabled. If through some unfortunate event you do become disabled, your student loans are (taxably) forgiven, and then you are hit with a humongous tax bill right when you can't even get a job anymore.
This situation is obviously a lot different than an employed physician getting hit with a big tax bill, but it is still a sobering look at the tax bomb and how devastating it can be. Seniors are being forced to sell their family homes, etc.