Relief from Debt-Forgiveness Inclusions: Key Points
If an individual is unable to pay their debt due to financial hardship, their lender might decide to cancel or reduce the amount owed. This debt cancellation could result in a ...

Debt cancellation by private entities - Australian Taxation Office
When a private entity writes off a debt owed to it, it might be required to treat that amount as a dividend paid to the debtor at the close of the entity's financial year ...

Debt cancellation: Understanding IRS Form 1099-C - H&R Block
The insolvency tax exclusion policy permits the omission of part or all of a canceled debt from taxable earnings, provided the party was insolvent at the time the debt was ...