Sometimes things go wrong and you cannot make those payments. I know a case where a fellow student defaulted on his student loan payments and paid the penalty at the hands of the IRS. The IRS was actually able to prevent him from accessing his income tax refund. This went on until the student loan amount was completely paid off. The IRS is indeed a very powerful organization.
IRS Garnishment is never an ideal situation for the tax payer. It is however very popular as a method to recoup funds owed to the state. In the case of student … Read more at 2008 Taxes.
