Monthly Archives: June 2025

Do You Owe Taxes on Debt Forgiveness? What Florida Residents Need to Know

If you have recently had debt forgiven, you are likely feeling relieved. Unfortunately, that feeling could be short-lived. Many Florida residents do not realize that, in some cases where a creditor forgives a debt, the Internal Revenue Service considers it as income. This means that the debt forgiveness you were so happy about could… Read More »