Author Archives: benefitsboard

About benefitsboard

Art Rhodes is the President and CEO of the Church of God Benefits Board, Inc. - the administrator of the Ministers' Retirement Plan and the Church Loan Fund, Inc. The corporate offices of the Benefits Board are in Cleveland, TN.

IRS Announces 2022 Standard Mileage Rate 

The Internal Revenue Service recently issued the revised standard mileage rate which is used to calculate the deductible costs of operating an automobile for business purposes during 2022.  Beginning January 1, 2022, the standard mileage rate for the use of … Continue reading

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Board Manuals Updated for 2022 

With each New Year comes new rules, new regulations, and new contribution limits. Therefore, all of the Benefits Board’s free educational manuals have been updated to take into consideration all relevant changes for 2022. You can access the latest version … Continue reading

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Board Grants Year-End “Bonus” to Participants

In the recent meeting of the Board of Directors of the Church of God Benefits Board, the entity charged with managing the Ministers’ Retirement Plan, action was taken to grant a special year-end interest allocation to all participants in the … Continue reading

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Final Instructions

If you passed away today, would your family know how to access all your important accounts, files, insurance policies, and even social media accounts? The current pandemic has contributed to hundreds of thousands of deaths of people who would have … Continue reading

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COVID-19 Funeral Assistance Available Through FEMA

As a part of the recent stimulus legislation passed by Congress, the Federal Emergency Management Agency (FEMA) is making available emergency funeral assistance for those who died from COVID-19. Up to $9,000 per death may be provided if the applicant … Continue reading

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W-2/1099-NEC Tips

A W-2 form must be issued to any employee (including ministers) who received compensation from the local church during the previous tax year. In addition, 1099-NECs (a new form) must be issued to all independent contractors who received more than … Continue reading

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Board Manuals Updated for 2021

With each New Year comes new rules, new regulations and new contribution limits. Therefore, all of the Benefits Board’s free educational manuals have been updated to take into consideration all relevant changes for 2021. You can access the latest version … Continue reading

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IRS Announces 2021 Standard Mileage Rate

The Internal Revenue Service recently issued the revised standard mileage rate which is used to calculate the deductible costs of operating an automobile for business purposes during 2021. Beginning January 1, 2021, the standard mileage rate for the use of … Continue reading

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PPP Forgiveness Underway With New Rules for Loans Less Than $50,000

After substantial delays, lenders across the country are now accepting forgiveness applications for loans obtained through the CARES Act. Under the massive stimulus legislation passed in late March 2020, the Paycheck Protection Program (PPP) provided assistance to small businesses, including … Continue reading

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IRS Launches “Get My Payment” Website

Late in the afternoon on Tax Day, April 15, the U.S. Department of Treasury and the Internal Revenue Service launched the “Get My Payment” website for those who filed a tax return in 2018 or 2019, but did not provide their direct … Continue reading

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