RETIREMENT: Bills seek tax relief for annuities
Tax relief for annuity investors would be provided under legislation pending on Capitol Hill.
Tax relief for annuity investors would be provided under legislation pending on Capitol Hill. Both S 1297 and HR 2748 would provide a 50% tax exclusion on the annual income from a non-qualified lifetime annuity. The Senate bill would allow an exclusion up to $20,000; the House bill would provide the tax break up to $10,000 annually. For a look at either bill and for more details, visit thomas.loc.gov.
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