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by Sherri on April 11th, 2009
There shouldn't be any taxes on the $750K...there may be some taxes on any interest earned and that should be a separately stated item on the payout.
by weatherman taking week or so off on April 15th, 2009
Insurance payments to individuals are not taxable. If the insurance went to the deceased's estate, it may be taxable. See an accountant or attorney.
Who has to give notice of conversion from group to individual life insurance policy?
by Answerbag Staff on July 21st, 2010
| 1 person likes this
If a person changes their life insurance beneficiaries & then commits suicide less then 24hrs later. Is the changes to the policy good?
by Anonymous on November 29th, 2010
| 1 person likes this
Can a child's life insurance policy lose it's cash value by 35% with a catastrophic illness as an adult & her twin's policy not?
by ZoeSimone on January 20th, 2011
| 1 person likes this
What is a flat extra premium on a life insurance policy?
by Answerbag Staff on July 14th, 2010
| 1 person likes this
Is my life insurance policy premium tax deductible?
by Answerbag Staff on July 12th, 2010
| 1 person likes this
You're reading My girlfriend received $750,000 in 2008 from the life insurance policy of her late husband..will the I.R.S tax this money?
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Comments
Thank you...i was a little worried about that..she is alone and the $750,000 may sound like alot of money..but she owes $300,000 on her house and has two small children to raise up...
by Happy-Dance on April 12th, 2009