Under current law, if a borrower falls into the 22% tax bracket and has $100,000 in student loan forgiven, they may owe $22,000 to the IRS. The U.S. Department of Education did not respond to repeated requests for comment. We are using only Christophers first name to protect his privacy. If a new law does cancel $10,000 in student debt per borrower, in addition to forgiven debt not being taxable, the average borrower will save $13,400 in interest, according to an estimate by Taylor. Student loan borrowers are facing huge delays applying for Public Service Loan Forgiveness.
Under current law, if a taxpayer fees into the 18% zone of anions and has $100,000 in ongoing interest payments, they may lose $35,400 of that wealth to the IRS.
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(z0 / say-01
    :ARG0 (z1 / law
              :time (z2 / current))
    :ARG1 (z3 / possible-01
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                        :ARG0 (z5 / person
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                                               :ARG1 (z7 / tax-01))
                                  :ARG1-of (z8 / mean-01))
                        :ARG1 (z9 / monetary-quantity
                                  :quant 35000
                                  :ARG1-of (z10 / include-91
                                                :ARG2 (z11 / wealth
                                                           :mod (z12 / that)))
                                  :unit (z13 / dollar)
                                  :unit (z14 / dollar))
                        :ARG2 (z15 / government-organization
                                   :name (z16 / name
                                              :op1 "IRS")))
              :condition (z17 / and
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                                        :ARG2 (z19 / zone
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                                                   :mod (z21 / anion)))
                              :op2 (z22 / have-03
                                        :ARG0 z5
                                        :ARG1 (z23 / pay-01
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                                                   :ARG1-of (z25 / go-on-15)
                                                   :ARG2 z5
                                                   :ARG3 (z26 / monetary-quantity
                                                              :quant 100000
                                                              :unit z13))))))
Under current law , if a taxpayer fees into the 18 % zone of anions and has $ 100,000 in ongoing interest payments , they may lose $ 35,400 of that wealth to the IRS .
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