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What is Taxable GT Life?

GT life taxable
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What is Taxable GT Life?

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Employer provided group-term life insurance coverage with a value of $50,000 or less is a tax-free benefit to the employee if it is provided in a nondiscriminatory fashion. The value of the coverage in excess of $50,000, less any employee after-tax payroll deductions, is taxable income.

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