However, there are some exceptions that may allow a taxpayer to escape paying tax on all or part of Cancellation of Debt income reported on Forms 1099-C. The most common situations when ...

the tax treatment of non-fungible tokens (NFTs), improperly forgiven Paycheck Protection Program loans, and cancellation of debt income. This is not an exhaustive review of tax issues and news for ...

The Federal government will also provide student loan debt cancellation ... the 2022 loan cancellation amounts will be nontaxable for federal income tax purposes. That means that the amount ...

Many borrowers have benefited from education debt cancellation under the Biden administration. While in office so far, ...

Borrowers may look to sinking funds as a way to help plan for potential student loan debt cancellation ... fallback option for paying any resulting tax bills. According to Federal Student Aid ...