Category Archives: 03 – March 2015

Multiple Homes and the Ministerial Housing Allowance

It is not unusual for a minister to own two homes. He may be living in one home and buying another for retirement purposes or he may have lived in one home for a particular pastorate and bought another home … Continue reading

Posted in 03 - March 2015, Informational Manuals, Internal Revenue Service, Ministerial Housing Allowance, Ministers, Tax Information | Leave a comment

Parsonage / Housing Allowances – IRS’s Perspective

The following article is directly reprinted from the Internal Revenue Service’s Tax Guide for Churches and Religious Organizations (Publication 1828). You may access the entire publication by clicking here: “Generally, a minister’s gross income does not include the fair rental … Continue reading

Posted in 03 - March 2015, Informational Manuals, Internal Revenue Service, Ministerial Housing Allowance, Ministers, Tax Information | Leave a comment

Creating a Valid Ministerial Housing Allowance

The following simple steps should be taken to assure that the ministers’ housing allowance is created properly: The minister should determine his yearly housing costs by using the Estimate of Housing Allowance form (may be obtained at http://www.benefitsboard.com). The Estimate … Continue reading

Posted in 03 - March 2015, Informational Manuals, Ministerial Housing Allowance, Ministers, Social Security, Tax Information | Leave a comment

Creating an Accountable Reimbursement Plan

Only at tax time do many ministers find out that their “accountable reimbursement plan” is not really “accountable” under the rules of the IRS. Included here is an excerpt from theChurch Treasurers’ Manual, available at http://www.benefitsboard.com without charge, which should … Continue reading

Posted in 03 - March 2015, Expenses, Informational Manuals, Internal Revenue Service, Ministers, Pay Roll Taxes, Tax Information | Leave a comment

Audit Tips

Your chances of being audited by the Internal Revenue Service are going up, but only slightly. For example, in 2001 the IRS audited 732,000 individual returns compared to only 618,000 in 2000. However, in 2014 the IRS was expected to … Continue reading

Posted in 03 - March 2015, Chaplains/Evangelists, Charitable Gifts, Form 1099, Form W-2, Informational Manuals, Internal Revenue Service, Ministerial Housing Allowance, Ministers, Pay Roll Taxes, Social Security, Tax Information | Leave a comment

New Guidance on Employer Payment Plans Regarding Reimbursement of Certain Health Insurance Policies

UPDATED TAX DEVELOPMENT – PLEASE NOTE THAT THIS ARTICLE IS UPDATED AS OF MARCH 1, 2015, WITH NEW INFORMATION REGARDING THE WAIVER OF PENALTIES CONCERNING REIMBURSEMENT OF PREMIUM COSTS As background information, in September 2013, the IRS issued Notice 2013-54 that provided, among … Continue reading

Posted in 03 - March 2015, Form W-2, Health Care, Informational Manuals, Internal Revenue Service, Ministers, Pay Roll Taxes, Tax Information | Leave a comment