Long-Term-Care Protection Strategies The slideshow presentation that you would like to view is too large for your current screen resolution. Click here to view to view the slideshow at full resolution. Launch Presentation » Share | Have A Question About This Topic? Name Email Address Question Thank you! Oops! Related Content Tax Deductions: Catch Them All! Most of us pay too much in taxes because we aren’t aware of all the tax deductions available. When Life Insurance Becomes Taxable Life insurance proceeds are generally tax-free. But not in all cases. Red Flags for Tax Auditors Here are six flags that may make your tax return prime for an IRS audit.