Clergy receive life insurance as part of being enrolled in the Church Pension Group (CPG). Most clergy have policies in the range of $100,000-$150,000. For any amounts over $50,000, the imputed value needs to be reported to the tax authorities. Imputed values are the calculated values of benefits provided by an employer for a particular year. CPG will send notices to each clergy person with the imputed value. Our staff has sent out totals to each church administrator as well. These amounts should be added to the 2018 W-2 as a taxable item. If you use a payroll service such as Paychex or ADP, they can help you with how to report this. If for some reason it’s not included on the W-2, clergy should let their tax preparers know the amount so it can be accounted for properly in their tax returns.