Do Souls get annihilated or burn in hell forever?

They actually burn in hell forever.

Revelation 14:10-11 states that the lake of fire is being tormented day and night forever, and ever.

They might argue that annihilation is forever and ever.

However, the verses tormented and they have no rest, day or night. They are still alive.

Revelation 20:10 says that the Beast and the false prophet are cast into the lake of fire where they burned forever and ever.

Revelation 21:8 shows that lost sinners go to this lake of fire forever and ever.

Matthew 25:46 also says that if you want to go to life eternal, there must also be eternal punishment.

If you make it life eternal, but punishment not eternal, then you make void Matthew 25:46.