"The employer can pay off the principal and interest on the employee's student loan, and the amount paid on behalf of the employee is excluded for income tax purposes and for payroll tax purposes.... [In 2018] the IRS issued a private letter ruling to Abbott Laboratories that authorized Abbott to make an employer contribution ... to its 401(k) Plan on behalf of those employees who were paying off their student loans but not making a 401(k) deferral into the 401(k) Plan.... In 2019, the IRS signaled that it was going to turn the Abbott private letter ruling into a revenue ruling[.]"

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