Category Archives: Form 1099

New Filing Date for W-2s and 1099s

Posted on December 9, 2016 by benefitsboard

With just a few days left before the new year, church treasurers are hopefully already making preparations to get out W-2s to employees, Form 1099s to independent contractors, and charitable receipts to all that may have contributed more than $250 … Continue reading →

Posted in 12 - December 2016, Form 1099, Form W-2, Tax Information | Leave a comment

Audit Tips

Posted on March 6, 2015 by benefitsboard

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

Paying Taxes on Amounts Withdrawn Early from Pension Funds

Posted on February 11, 2015 by benefitsboard

Some participants question whether they have to include money that is withdrawn early from their pension account as income in the year that it is withdrawn. The answer is simply yes. You must include as a part of your income … Continue reading →

Posted in 02 - February 2015, Form 1099, Informational Manuals, Internal Revenue Service, Retirement Distributions, Tax Information, Withdrawals | Leave a comment

Online Filing of Forms W-2 & W-3 plus other Additional Tax Tips

Posted on January 22, 2015 by benefitsboard

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 www.socialsecurity.gov/employer/. On the website, you will need to select “Business … Continue reading →

Posted in 01 - January 2015, Credit Information, Form 1099, Form W-2, Internal Revenue Service, Tax Information | Leave a comment

Completing the W-2 Form for 2015

Posted on January 14, 2015 by benefitsboard

By the end of January, the church treasurer must provide an IRS Form W-2 to the pastor and any other staff member of the church. In addition, IRS Form 1099s are provided to “independent contractors,” such as evangelist. A line-by-line … Continue reading →

Posted in 01 - January 2015, Form 1099, Form W-2, Internal Revenue Service, Tax Information | Leave a comment

Additional Tax Tips

Posted on February 13, 2014 by benefitsboard

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

Employee (W-2) or Self-Employed (1099)?

Posted on February 13, 2014 by benefitsboard

If you are a pastor or employee of a Church of God church or related entity, you should receive a Form W-2 from your employer by no later than February 1. While many minister (and churches) continue to claim that … Continue reading →

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

Filing an Amended Return

Posted on June 12, 2013 by benefitsboard

Finished filling out your tax return and realized you made a mistake? Don’t panic. The good news is you can fix your mistake by filling out a Form 1040X, an amended return. The only downside to filing an amended return … Continue reading →

Posted in Form 1099, Form W-2, Internal Revenue Service, Tax Information | Leave a comment

Most Common Mistakes on Tax Returns

Posted on February 22, 2013 by benefitsboard

If you have not yet filed your tax return, you should be aware of some common mistakes that the IRS says occurs on tax returns. These simple mistakes could delay the processing of your return or delay your expected refund. … Continue reading →

Posted in Form 1099, Form W-2, Informational Manuals, Internal Revenue Service, Tax Information | Leave a comment

No Self-Employment Tax on MRP Retirement Income

Posted on February 22, 2013 by benefitsboard

At tax time, the Benefits Board gets a lot of questions about the IRS Form 1099-Rs that are sent to participants in January showing the amount of the participant’s distributions for the previous year. The most common question regards whether … Continue reading →

Posted in Form 1099, Internal Revenue Service, Retirement Distributions, Tax Information | Leave a comment