Employer-paid premiums on life insurance are not taxable to the employees,unless the coverage is in excess of ________.

Question

Quizplus · Accepted Answer

The correct answer is D, $50,000. According to the IRS, any group term life insurance coverage provided by the employer that exceeds $50,000 is considered a taxable fringe benefit and must be included in the employee's taxable income. Therefore, employer-paid premiums on life insurance up to $50,000 are not taxable to the employees.

Employer-Paid Premiums on Life Insurance Are Not Taxable to the Employees,unless