If you had credit card or other debt that was canceled or forgiven during the recession you could get slapped with a bill from the IRS.

Debt that is canceled or forgiven is considered taxable income and you may be receiving a 1099-C tax form. WSB Consumer advisor Adam Goldfein says "an example might be a situation where somebody has debt that is forgiven say when you are negotiating with your credit card company." He says the amount that is forgiven is considered taxable income.

The nation's six largest credit card companies wrote off more than $75 billion in balances that were not collected in 2009 and 2010. Taxpayers who receive a 1099-C, which is also submitted to the IRS, are liable for the tax bill unless they can prove that the debt was discharged in bankruptcy or that they were insolvent when the debt was canceled.
The IRS  projects that creditors will send taxpayers 6.4 million 1099-Cs in 2012, up from 3.9 million in 2010.