Important Tax Provision for Businesses
Important Tax Provision for Businesses
As you may be aware, the Employer Participation in Repayment Act was passed into law and allows employers to contribute up to $5,250 tax-free to their employees’ student loans. This tax provision can be beneficial to your members and we hope that you will encourage them to take advantage of this resource before the benefit expires on December 31, 2025. U.S. Senator Mark Warner (VA) provided a resource document with an overview of this law and some tips on implementation.
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