Asked by Ahmad Ahmadzai on Jul 01, 2024
Verified
Benefits provided to domestic partners of employees have the same tax advantages as benefits provided to their spouses.
Tax Advantages
Financial benefits gained through the application of tax laws that reduce the amount of tax a person or company owes, often used to encourage certain activities or investments.
Domestic Partners
Two individuals who live together and share a domestic life but are not married to each other.
- Learn the criteria for eligibility and the benefits offered by workers' compensation policies and the Employee Retirement Income Security Act (ERISA).
Verified Answer
ZK
Zybrea KnightJul 02, 2024
Final Answer :
False
Explanation :
Benefits provided to domestic partners are often treated differently for tax purposes than those provided to spouses. Generally, the IRS does not allow pre-tax benefits for domestic partners in the same way they do for spouses, which can result in higher taxable income for the employee.
Learning Objectives
- Learn the criteria for eligibility and the benefits offered by workers' compensation policies and the Employee Retirement Income Security Act (ERISA).