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Education
The employer would need to make the payment specifically for the purpose of student loan payment to qualify for this new provision.
Speak to your employer about the potential to redirect bonuses to your student loan instead of a general cash payment - they may be willing to do this for you as the benefit reduces payroll tax for your employer as well.
It would be a win-win for you both!
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‎June 17, 2020
1:46 PM
10,935 Views