Create Automatic Income Imputation Amount for Group Life Benefit Over $ 50,000

Create Automatic Income Imputation Amount for Group Life Benefit Over $ 50,000

It would be beneficial if BerniePortal would automatically provide employees with the amount of income to be imputed in their W-2 for the value of their employer-paid group life policy over $ 50,000.  Using the employees date of birth, date of hire and IRS Uniform Premium Table, both a first year (prorated) and a 2nd year (annual) amount could be easily calculated and would save us and our client time.