If before taxes the bonus is 10K and after taxes the bonus is 5.5K, but the person would like the 10K deposited directly against their student loan account without taking possesion of the money. Is this allowed? Thanks.
Can employeer instead of bonus as taxable income make nontaxable deposit against employee student loan account
Any student loan cancellation programs has to be formal, set up a head of time and be a condition of employment.
What you describe won't count. It's fully taxable.
Can employeer instead of bonus as taxable income make nontaxable deposit against employee student loan account
It would still be taxable income - so no, that won't work.
Can employeer instead of bonus as taxable income make nontaxable deposit against employee student loan account
It not only is fully taxable, it is also subject to FICA
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