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  2. Internal Revenue Code section 79 - Wikipedia

    en.wikipedia.org/wiki/Internal_Revenue_Code...

    The cost of employer-provided group-term life insurance on the life of an employee's spouse or dependent, paid by the employer, is not taxable to the employee if the face amount of the coverage does not exceed $2,000. This coverage is excluded as a de minimis fringe benefit. Some cases may allow more. [5]

  3. Internal Revenue Code section 132(a) - Wikipedia

    en.wikipedia.org/wiki/Internal_Revenue_Code...

    An award does not qualify as a tax-free employee achievement award if the award is cash, cash equivalents, gift cards, gift certificates, vacations, meals, lodging, tickets to events, stocks, bonds, other securities, and similar items. [17] Section 79 excludes $50,000 worth of group term life insurance coverage provided by an employer to an ...

  4. Corporate-owned life insurance - Wikipedia

    en.wikipedia.org/wiki/Corporate-owned_life_insurance

    Although the 4 out of 7 test was exploited in the 1980s by businesses seeking to in effect pay for insurance on employees/shareholders, e.g., on a deductible basis, the introduction of the US$50,000 cap/insured in 1986 in turn led to the creation of broad-based leveraged COLI transactions, i.e., those in which the employer would purchase life ...

  5. IRS Section 7702: Life Insurance Tax Definition - AOL

    www.aol.com/irs-section-7702-life-insurance...

    When purchasing life insurance, you may be wondering whether cash value or death benefits are taxable. Section 7702 of the Internal Revenue Code (IRC) determines when life insurance proceeds can ...

  6. Myth: Life Insurance is NOT Taxable - AOL

    www.aol.com/news/myth-life-insurance-not-taxable...

    The reality is that life insurance is treated as an asset in your estate. And if the payout pushes your estate past federal or state estate tax exclusion limits, it could trigger a hefty estate ...

  7. Is Life Insurance Taxable? Find Out What Your Beneficiaries ...

    www.aol.com/news/life-insurance-taxable...

    Owning a life insurance policy can be an effective way to ensure that your loved ones are provided for if you die prematurely. You pay premiums on the policy, and if the policy is still in force at...