Bloomberg: Loan Forgiveness Deductions Left in Hands of Congress

The IRS could have gotten flack for allowing the deductions, tax professionals said, as the agency could be seen as effectively legislating. The agency didn’t immediately return a request for comment.

“They’re there to administer the law, not to make it, and that’s exactly what they’re doing,” said Matt Gardner, a senior fellow at the Institute on Taxation and Economic Policy. Read more

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