Group-Term Life Insurance
wrote an interesting post today on
Here’s a quick excerpt
Total amount of coverage IRC section 79 provides an exclusion for the first $ 50000 group term life insurance coverage under a policy carried directly or indirectly by an employer. There are no tax consequences if the total amount of these policies does not exceed $ 50000. The imputed cost of coverage in excess of $ 50000 be included in income, using the IRS Premium table, and are subject to social security and Medicare taxes. Developed directly or indirectly by the employer A fringe benef
Read the rest of this great post here