Illinois is one of 20 states whose tax codes automatically conform to the federal change. This means that unless Illinois legislators decouple the conforming provision before taxes are due next year, student loan forgiveness amounts will also be taxed by the state.
A largely unasked question is becoming glaring: Is Illinois doing all it should to use artificial intelligence to make government cost less and work better? So far, the evidence says no.
They wanted the degree. They took out the loan . They should pay the bill.
Can tax tips they should tax this !
They should be taxed by both the Federal and the state. It is income, just like bad debt forgiveness. Let them work and pay off their debts.
Bout time those leftist wokesters studying drivel had some skin in the game. Next time they’ll obtain a marketable skill.