If you received student loan forgiveness and live in North Carolina, you'll pay a flat state income tax rate of 4.5% on your ...

You will receive a 1099-C Cancellation of Debt form if a lender forgives more than $600 of taxable debt. You must include the amount of canceled debt on your federal tax return as a part of your ...

Millions of Americans have student loans and despite Biden administration proposals to partially forgive them, those debts ...

In the private sector, if any form of debt relief is offered ... actions such as wage garnishment or asset seizure. Tax debt forgiveness may have implications for future tax filings, and forgiven ...

If you borrow money (credit card debt is borrowed money) from a commercial lender and the lender later cancels or forgives the debt, you may have to include the canceled amount as income for tax ...

For instance, taxable forgiveness implies that in future, you will be required to part with income tax on that amount ... he said unpaid bills in the form of unpaid medical bills are worse for credit ...

The Biden Administration announced today that over 1 million student loan borrowers have been approved for Public Service Loan Forgiveness (PSLF), eliminated more than $73 billion in debt.

There are a few exceptions. If you manage to cancel your credit card debt through a gift or an inheritance, you won’t have to ...