税务处理第 461 / 716 题
Under federal tax rules, employer-paid group term life insurance is income-tax-free to the employee on coverage up to:
a.An unlimited amount of coverage
b.Ten thousand dollars of coverage
c.Two hundred fifty thousand dollars of coverage, with the cost of anything above that amount taxable to the employee
d.Fifty thousand dollars, with the cost of coverage above that amount taxable to the employee as imputed income
解析
An employee may receive up to fifty thousand dollars of employer-paid group term life coverage without owing income tax on the premium; for coverage above fifty thousand dollars, the IRS-determined cost of the excess is added to the employee's taxable income as imputed income. The threshold is not ten thousand, two hundred fifty thousand, or unlimited. This fifty-thousand-dollar rule is a frequently tested figure in group life taxation.
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同考点相关题目
- Dividends paid on a participating life insurance policy are generally treated for federal tax purposes as:
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- In a cross-purchase buy-sell agreement funded with life insurance, the policies are owned by:
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审核人 John Zihao Zhang — California-Licensed Life Insurance Agent (CA Dept. of Insurance License #4396095 — 核实)