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1993-04-16
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787b
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14 lines
04/15/1993
WASHINGTON (AP) -- Some people who overpaid 1992 income taxes
won't be getting refunds: The government seizes reimbursements due
those who borrowed money for college but never paid it back.
Last year, the government claimed all or part of refunds due more
than 720,000 people who had outstanding loan balances for a total of
more than $530 million, the Department of Education said.
As of April 5, in excess of $279 million had been collected from
more than 326,000 people, the department said, with the average
refund kept by the government so far this year 855.49.
Since the IRS Tax Refund Offset Program began in 1986, more than
3.2 million people have forfeited nearly $2.1 billion. The money is
seized after other collection efforts have failed.