If a corporation pays the premium on a group life policy for its employees, additional taxable income for each employee is Nothing
This is further explained below.
Generally, Along with wages, salaries, commissions, fees, and gratuities, this also covers other types of pay, such as stock options and fringe benefits. Your employer must provide you with a Form W-2, Wage and Tax Statement, detailing the compensation you received for your services.
In conclusion, If an employer contributes to the cost of a group life insurance policy for its workers, the employees do not have to report any extra income for tax purposes.
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