When a debt you owe is canceled or discharged, the tax code treats the wiped-out debt as cash income to you that you must report. If you owe $500,000 to the bank, but the bank forgives it, it’s as if the bank just handed you $500,000 so the IRS wants a cut. Fortunately, there are exceptions.

There’s Something Fishy About ‘The Little Mermaid’ Audience Review Scores On Rotten Tomatoes
Something fishy is going on with The Little Mermaid’s Rotten Tomato user reviews.