26-U.S.C.-6052
§6052 – Returns Regarding Payment of Wages In The Form of Group-Term Life Insurance
Pathway
Title 26 > Subtitle F > Chapter 61 > Subchapter A > Part III > Subpart C > Section 6052
Details
- Reference: Section 6052
- Legend: §6052 – Returns Regarding Payment of Wages In The Form of Group-Term Life Insurance
- USCode Year: 2013
Provision Content
(a) Requirement of reporting
Every employer who during any calendar year provides group-term life insurance on the life of an employee during part or all of such calendar year under a policy (or policies) carried directly or indirectly by such employer shall make a return according to the forms or regulations prescribed by the Secretary, setting forth the cost of such insurance and the name and address of the employee on whose life such insurance is provided, but only to the extent that the cost of such insurance is includible in the employees gross income under section 79(a). For purposes of this section, the extent to which the cost of group-term life insurance is includible in the employees gross income under section 79(a) shall be determined as if the employer were the only employer paying such employee remuneration in the form of such insurance.
(b) Statements to be furnished to employees with respect to whom information is required
Every employer required to make a return under subsection (a) shall furnish to each employee whose name is required to be set forth in such return a written statement showing the cost of the group-term life insurance shown on such return. The written statement required under the preceding sentence shall be furnished to the employee on or before January 31 of the year following the calendar year for which the return under subsection (a) was required to be made.
(Added Pub. L. 88–272, title II, §204(c)(1), Feb. 26, 1964, 78 Stat. 37; amended Pub. L. 94–455, title XIX, §1906(b)(13)(A), Oct. 4, 1976, 90 Stat. 1834; Pub. L. 99–514, title XV, §1501(c)(14), Oct. 22, 1986, 100 Stat. 2740.)
Amendments
1986—Subsec. (b). Pub. L. 99–514, in amending subsec. (b) generally, substituted information is required for information is furnished in heading, and in text substituted reference to employers required to make a return for former reference to employers making a return and reference to employees whose name is required to be set forth for former reference to employees whose name is set forth.
1976—Pub. L. 94–455 struck out or his delegate after Secretary wherever appearing.
Effective Date of 1986 Amendment
Amendment by Pub. L. 99–514 applicable to returns the due date for which (determined without regard to extensions) is after Dec. 31, 1986, see section 1501(e) of Pub. L. 99–514, set out as an Effective Date note under section 6721 of this title.
Effective Date
Section applicable to group-term life insurance provided after Dec. 31, 1963, in taxable years ending after such date, see section 204(d) of Pub. L. 88–272, set out as a note under section 79 of this title.
U.S. Encyclopedia of Law Coverage
26-U.S.C.-6052 in the Legal Encyclopedia: Tax Administration
In this entry about 26-U.S.C.-6052, find legal reference material, bibliographies and premiere content related to tax administration in the American Encyclopedia of Law, presenting a comprehensive view of the United States tax administration-specific issues, written by authorities in the field.
26-U.S.C.-6052 in the Legal Encyclopedia: Information Returns
In this entry about 26-U.S.C.-6052, find legal reference material, bibliographies and premiere content related to information returns in the American Encyclopedia of Law, presenting a comprehensive view of the United States information returns-specific issues, written by authorities in the field.
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