Bills Seek Tax Relief for Annuities

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 give a tax break on up to $10,000 in income annually. For a look at either bill and for more details, visit thomas.loc.gov.