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New long-term care bill floated

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April 1, 2008 6:01 am ET

A bill introduced last month joins a handful of others that seek tax deductions for costs associated with long-term care. Introduced by Rep. Adam Putnam, R-Fla., and called the Long-Term Care Retirement and Security Act of 2008, HR 5559 would create tax deductions for eligible long-term-care insurance premiums for a taxpayer and that person’s spouse and dependents, along with establishing a credit for eligible caregivers for certain individuals with long-term-care needs. Similar bills include HR 3517, S 1809 and S 1980. For a look at the bills, visit thomas.loc.gov.

A bill introduced last month joins a handful of others that seek tax deductions for costs associated with long-term care. Introduced by Rep. Adam Putnam, R-Fla., and called the Long-Term Care Retirement and Security Act of 2008, HR 5559 would create tax deductions for eligible long-term-care insurance premiums for a taxpayer and that person’s spouse and dependents, along with establishing a credit for eligible caregivers for certain individuals with long-term-care needs. Similar bills include HR 3517, S 1809 and S 1980. For a look at the bills, visit thomas.loc.gov.

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