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ALABAMAAdvance DirectivePlanning for Important Health Care Decisions Caring Info 1731 King St., Suite 100, Alexandria, VA 22314 www.caringinfo.org 800/6588898 CRINGING, a program of the National Hospice
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An advance is a preliminary payment made to an individual or business before the final payment is due for a service or product.
Individuals or businesses that have received an advance payment are required to report it when filing their taxes.
To fill out the advance payment forms, you must provide details about the payment received, including the amount, source, and purpose of the advance.
The purpose of an advance is to provide funds upfront to facilitate the completion of a project or service, and to ensure liquidity for the service provider.
Information such as the amount received, date of receipt, details of the payer, and the associated project or service must be reported.
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