Take an IR spectrum and check for carbonyl groups, around 1700 cm-1.
2,4,6-trimethylphenol can easily be oxidized to the corresponding stilbene quinone and hydroxybenzaldehyde derivatives, that additionally form charge transfer complexes with the remaining, non-oxidized 2,4,6-trimethylphenol. This kind of impurities significantly decrease the solubility in water.