Student Loan Tax Insanity

Reposted From September 22, 2012

Grieving mother ordered to pay $14,000 in taxes on the student loans that were written off after son's suicide
By Meghan Keneally | The Daily Mail

* Russell Friend, 22, committed suicide shortly before graduating from college

* His mother Regina had accumulated $55,400 in loans and interest to help him pay for school

* Those loans were forgiven by the government but IRS considers that 'gift' taxable income so she has to pay an additional $14,000 more in taxes