You could owe taxes on forgiven debt — here's what you need to know

CNBC Select details how debt forgiveness works, what kind of debt is taxable and how debt relief appears on your credit report.

How to Avoid Paying Taxes on Debt Settlement

While debt settlement can reduce how much you owe, you could be liable for taxes on the canceled debt.

Student loan forgiveness could be taxed as income in some states

Although the student debt relief announced by President Joe Biden is exempt from federal income taxes, some states may consider it taxable income.

Cancellation of Debt (COD): Definition, How It Works, How to Apply

Debt settlement companies will assess your entire credit profile and contact creditors directly on your behalf for debt forgiveness. Debt relief programs will usually request that you stop...

Be prepared for taxes on your student loan forgiveness in these states

Millions of Americans had student debt canceled despite the Supreme Court's decision. Some will owe state taxes on it. Find out if you're one of them.

If you have tax debt, here are 5 tips to set things right with the IRS

Struggling with tax debt? Never fear. There are moves you can make to reduce the impact of unpaid taxes on your life, credit and financial well-being. Here are five tips to lessen that burden.

How student loan forgiveness could affect taxes

paying taxes on the erased debt. The big picture: The Biden administration has been looking... signature forgiveness plan. The Education Department under the administration has doled out...

Will I be taxed on student loan forgiveness?

Some forms of student loan forgiveness are taxable. If you aren't prepared, the taxes on student loan forgiveness can be significant.

What Biden's student loan forgiveness means for your taxes

A tax expert weighs in on how President Biden's plan for student loan forgiveness affects borrowers' taxes.

Borrowers Won't Owe Federal Taxes on Forgiven Student Debt, 13 States Will Tax

from taxes in the stimulus package. "Thanks to the American Rescue Plan, this debt relief will not be treated as taxable... states on forgiveness, depending on where they live. The Tax...