An employee can receive the cost of the first $50,000 of group-term life insurance coverage under a plan carried directly or indirectly by his or her employer on a tax-free basis. The cost of coverage in excess of $50,000, however, is included in the employee?s income to the extent the company pays for this coverage.
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Nov_Dec_99_145-146
Tax on Employees' Taxable Life Insurance Reduced! Maybe There Really Is a Kinder, Gentler IRS! by Tracie K. Henderson
