Foreign interest free loan
I'm a grad student graduating in May 2015. I'll be employed in the UK office of my employer (a US organization). My employer is giving me a zero interest loan to pay off my student loans (let's say today), with a contract stating repayment over 30 months with monthly deductions from my salary upon my start date in October 2015.
My employer informed me that I'll have to pay the UK govt tax on the interest benefit, but does anyone know what the implications is for the my US filing for 2014, 2015, or any year?