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There are various loan forgiveness programs for nurses serving in the military. The Navy offers a Health Professions Repayment Program , while the Army has similar programs for active-duty members .
The Public Service Loan Forgiveness (PSLF) program is a United States government program that was created under the College Cost Reduction and Access Act of 2007 signed into law by President George W. Bush to provide indebted professionals a way out of their federal student loan debt burden by working full-time in public service. [1]
The Bipartisan Budget Act of 2018 renewed it for all of the tax year 2017 and offered a wide range of individual and business tax benefits that had expired at the end of 2016, including the "exclusion from gross income of discharge of qualified principal residence indebtedness (often, foreclosure-related debt forgiveness), claimed on Form 982." [2]
The White House said Friday it approved another $4.28 billion in student debt cancellation for 54,900 additional public service workers in what could be one of the Biden Administration's final act ...
If COD income is excluded from gross income, the taxpayer's tax attributes must be reduced, [33] which is done through IRS Form 982 (Reduction of Tax Attributes Due to Discharge of Indebtedness). A taxpayer's tax attributes are, and must be reduced in the following order: [34] Net operating loss (NOL) – Any NOL of the taxable year of the ...
The most important copy of the DD 214 for the individual is the long form copy. It is the standard form needed to obtain benefits such as GI Bill or government employment priority. There are eight original DD214 copies. All but Member 1, the "short form" copy, contain information as to the nature and type of discharge, and the re-enlistment code.