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QUEEN ELIZABETH SHOULD PAY THE TAXMAN $20 MILLION

Queen Elizabeth II owes about $20 million in 1992 British taxes but is not likely to pay that much, according to the January issue of Money magazine.

The magazine says $20 million is the proportion of the monarch's estimated $50 million annual income she would owe if taxed at the same rate as her wealthiest countrymen.

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However, tax experts expect the queen to make a deal that would cut her tab to as little as $3 million.