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
FY2019
FY2020
FY2021
FY2022
FY2023
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>
25.6
25.0
24.3
25.4
26.5
Loading...