Please don’t tell business what to do since you yourself don’t agree with the loan canceling amount. According to IRS, canceled debt is TAXABLE! Except federal student loans and in New York State. Post Views: 133 Post navigation Why are parents required to buy school supplies that the students don’t use? Rikers Island is scheduled to close in 2027. With crime and incarceration rising, will the 4 borough jails become extra beds?