I have federal student loan payments being taken from my paychecks each week so am sure that my tax return will also be taken. If I file married and use the injured spouse form will my income hurt or help my spouse if the irs withholds my refund?
SuperUser Carl is on target. You should file jointly and your wife should request injured spouse protection (form 8379) so that her part of the refund won't be taken for your student loan.
You can prepare form 8379 in TurboTax by using the following steps:
Are your payments normal payback? Or are they being withheld from your paycheck because of lien, garnishment, or court order? If the former, then nothing to concern yourself with. Otherwise, the injured/innocent spouse form just means that the tax refund based on your spouses overpayment of taxes will not be applied to what you owe.
They are withheld from my check. Would it be better to file married but separately or will her portion be in danger of being withheld?
No, it would not be better to file MFS. That's the worst way for a married couple to file. With the injured spouse form, only the debtor's portion of any refund is kept and applied to their debt.
SuperUser Carl is on target. You should file jointly and your wife should request injured spouse protection (form 8379) so that her part of the refund won't be taken for your student loan.
You can prepare form 8379 in TurboTax by using the following steps: