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
FY2020
FY2021
FY2022
FY2023
FY2024
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="https://www.law.cornell.edu/uscode/text/26/79" target="_blank">IRC § 79</a>
24.9
24.6
25.4
26.4
27.1
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