Ezra Dyckman and Charles S. Nelson, partners at Roberts & Holland explain the tax implications of a cancelled debt.

In these cases, the credit card company will generally send you a Form 1099-C, "Cancellation ... may treat forgiven debt differently. Some states follow federal tax treatment, while others have ...

Amounts forgiven through debt settlement may be taxed as income by the IRS. An IRS worksheet shows how to avoid paying taxes on debt settlement when you're insolvent. Taxpayers who are insolvent ...

Legislation to modernize the taxation of debt investments held by life insurers has been reintroduced in both the House and Senate.

If your federal student loans were forgiven in 2024, you may be wondering if there are any tax implications. Many borrowers ...

Text Callout : Key Takeaways - How to Avoid Paying Taxes on Debt Settlement An individual overwhelmed by debt who is considering debt settlement has to take possible drawbacks into account, with a ...