Category Archives: 01 – January 2014

More W-2 and Tax Tips

More W-2 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 completing the forms, here are a few tips to remember:  The W-2 forms … Continue reading

Posted in 01 - January 2014, Form W-2, Informational Manuals, Internal Revenue Service, Tax Information | Leave a comment

Charitable Gifts under $250 to Churches

Most church treasurers and donors are familiar with the current law concerning substantiation of gifts given to churches. If a donor gives any one gift that is in excess of $250, the church must provide a receipt to the donor … Continue reading

Posted in 01 - January 2014, Charitable Gifts | Leave a comment

Charitable Acknowledgements

As a pastor, clerk, or church treasurer, you should make sure that any person who contributed more than $250 to your church within the year in a single gift gets a letter of acknowledgement from your church at least by … Continue reading

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Tax Reporting and the Housing Allowance

Although the IRS instructions for Form W-2 do not require that the “fair rental value” of the parsonage be reported on the W-2, the Board joins the IRS (Instructions to Form W-2) in recommending that Box 14 be used to … Continue reading

Posted in 01 - January 2014, Form W-2, Ministerial Housing Allowance | Leave a comment

Tax Withholdings for Ministerial Staff

Much has been written about the “dual” tax status of ministers. In very simplistic terms, ministers are viewed by the IRS as an “employee” for federal income tax purpose but as “self-employed” for Social Security purposes. This dual status creates … Continue reading

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Additional Tax Tips

During the holiday season in years past, each taxpayer use to receive another package in the mail from their favorite uncle. Yes, “Uncle Sam” would send a package immediately after Christmas that contains tax forms for filing your income taxes. … Continue reading

Posted in 01 - January 2014, Form 1099, Form W-2, Tax Information | Leave a comment

Online Filing of Forms W-2 and W-3

Churches and other church-related employers, along with other businesses, may file Forms W-2 and W-3 electronically by visiting the Social Security Administrations’ website at http://www.socialsecurity.gov/employer/. On the website, you will need to select “Business Services Online (BSO)” and register as … Continue reading

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