Imputed Income: What You Should Know About the October Monthly Payroll
Imputed income is the term that the Internal Revenue Service (IRS) applies to the value of a benefit or service that should be considered income for the purposes of calculating your federal taxes. Only a few benefits may count as imputed income. For SDUSD employees, this includes:
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Basic Life Insurance in excess of $50,000. Eligible employees are automatically enrolled in basic life insurance coverage underwritten by The Hartford and provided at district expense. The death benefit is equal to annual salary x 1.
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Supplemental life insurance.
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Medical and dental insurance coverage for domestic partners.