Image: Some of the 43 million Americans who could see some—if not all—of their student loans forgiven this year might need to start saving for a tax bill. Forgiven debt will be taxed in Arkansas, California, Indiana, Minnesota, Mississippi, North Carolina and Wisconsin unless lawmakers in those states change laws, said Jared Walczak, vice president of state projects for the Tax Foundation. Historically, state and federal governments have taxed debt forgiveness, but Congress added an...
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