[IYAS9YAS]

If they aren’t charged, it will be considered a gift by the IRS and taxed at the max gift rate of 48%.

Recipients of gifts are not charged tax on those gifts. The donors, if the amount exceeds a threshold limit (around $20,000 per person give-or-take), are taxed on anything that exceeds that threshold.

[rey]

It depends. On people who have walked away from their mortgages and people who have had their loans forgiven often are charged taxes on these amounts.