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IRS Becomes More Lenient in Light of Recession
The IRS typically resorts to a lien system when it has difficulty collecting taxes from individuals for a long period of time. These liens can make it hard for a person to qualify for insurance,...
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Requirements for Alimony to be Deductible
Individuals that pay alimony (also known as “spousal support” or “spousal maintenance”) to a former spouse can deduct these payments on their personal federal income tax returns. In turn, the alimony...
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Tax Liability Of An Annuity – Does It Exist?
Tax Liability Of An AnnuityEverybody is interested in avoiding taxation legally because no one likes to pay taxes. There is generally no tax liability in case of annuities and this is what makes it so...
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