An employee recognizes taxable income if his employer provides group-term life insurance coverage in excess of $50,000.

Name: An employee recognizes taxable income if his employer provides group-term life insurance coverage in excess of $50,000.
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According to IRS regulations, any group-term life insurance coverage provided by an employer in excess of $50,000 is considered taxable income to the employee. The employer must report the excess coverage on the employee's W-2 form as income.

An Employee Recognizes Taxable Income If His Employer Provides Group-Term