Browse benefits, reimbursements and voluntary deductions.
IMP generally identifies the taxable value of a noncash benefit. It can increase taxable wages without increasing cash paid. Payroll may show both a noncash earning and a corresponding offset so the benefit value is not deposited as cash.
How to read this entry
Use the meaning Imputed income alongside the column heading. An earnings amount, an employee deduction and an employer-cost memo can have different effects even when their labels look similar.
Example on a pay statement
A $30 taxable noncash benefit may add $30 to the relevant wage base. Net pay can fall by the resulting employee taxes even though you never receive an extra $30 deposit.
Examples illustrate the checking method. They are not a personal tax calculation or a promise of a particular benefit.
What to check with payroll
Identify the benefit and valuation period; distinguish the noncash offset from an ordinary cash deduction.
Compare related entries
Read the benefits, reimbursements and voluntary deductions guide to compare the entries in this part of your statement. Use the full pay stub code directory when a second abbreviation is unfamiliar.
Reference and scope
Official guidance on benefits, reimbursements and voluntary deductions provides background on the underlying rules. The actual plan, tax year, jurisdiction and payroll record determine how the rules apply.