Due to old and unmodified IRS life expectancy tables, particularly table V and VIII, many immediate annuities (mortality polled income contracts) may produce income tax advantages in the form of a “non-taxable” income source. Of course, non-taxable income is not the same as tax free income. How is this possible? It’s possible because these old IRS tables still assume shorter life expectancies derived from 1970s and earlier data. The shorter…
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