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Taxable Group Term Life Insurance
S O S - I am currently working with support (FOR OVER A WEEK) but have no resolution as yet. I have only just discovered one of our benefits is taxable and here is what I am trying to do in conjunction with NS and PerQuest Premier P/R. This way the EE W-2's will be correct, too!
1. Load YTD premium amounts into next payroll. (Apparently this will require creating an Earning Addition of type "Term Life in Excess of Standard".
2. Create a deduction item of type "Fringe Benefit Offset" so EE is not overpaid; i.e., deducts the premium amount.
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