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 ...

One major disadvantage of debt settlement is that the government may tax forgiven or canceled debt as income. This could eat into your debt settlement savings or even wipe it out altogether. It's ...

You must include the amount of canceled debt on your federal tax return as a part of your taxable income. Some instances ...

Pursuing certain types of credit card debt relief could have a big impact on your taxes. Here's what you need to know.

Will student loan cancellation hurt your taxes ... the IRS treats cancelled and forgiven debt as taxable income. As a result, in the past, you would have to pay taxes on the amount of your ...

Taxable income: Your AGI is not the same as your ... Unemployment compensation. Gambling income. Cancellation of debt. Stock options. Then, under adjustments to income, there are two dozen ...