Employer payments of employee group-term life insurance premiums for coverage up to $50,000 per employee are not included in income by the employee and are deductible by the employer.
Origin: IRC § 79
Tax Type
Tax Expenditure
Item Number
Item Name
Description
Origin
FY2018
FY2019
FY2020
FY2021
FY2022
Personal Income Tax
Exclusions from Gross Income
1.002
Exemption of Premiums on Group-Term Life Insurance
Employer payments of employee group-term life insurance premiums for coverage up to $50,000 per employee are not included in income by the employee and are deductible by the employer.
<a href="http://www.law.cornell.edu/uscode/html/uscode26/usc_sec_26_00000079----000-.html" target="_blank">IRC § 79</a>
23.0
25.4
25.1
25.0
25.7
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