Category Archives: Form W-2

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

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

Posted on March 6, 2015 by benefitsboard

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

The Earned Income Tax Credit

Posted on February 11, 2015 by benefitsboard

The question arises as to whether or not a minister’s housing allowance or the fair rental value of the parsonage is earned income for purposes of calculating the earned income tax credit, or EIC. The tax code is clear that … Continue reading →

Posted in 02 - February 2015, Form W-2, Informational Manuals, Internal Revenue Service, Ministerial Housing Allowance, Tax Information | 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

Tax Treatment of Retirement Plan Contributions

Posted on January 16, 2015 by benefitsboard

As for retirement contributions, whether such are reported or not on the participant’s Form W-2 depends on whether the contribution was made by the church or by the pastor/staff person through salary reduction. In the Treasurer’s Manual, we answer this … Continue reading →

Posted in 01 - January 2015, Form W-2, Informational Manuals, Ministers, Retirement Contributions, Tax Information | Leave a comment

More W-2 and Tax Tips

Posted on January 15, 2015 by benefitsboard

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

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

Board Offers Incentive to New Participants

Posted on January 14, 2015 by benefitsboard

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, much discussion centered on encouraging new members, especially younger ministers, to join the retirement plan. Following the … Continue reading →

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

Requesting an Extension to File Your Taxes

Posted on March 14, 2014 by benefitsboard

Since 2006, the Internal Revenue Service has made it easier for you to get a six month extension on filing your individual tax return. In previous years, you could file an IRS Form 4868 and get an automatic extension of … Continue reading →

Posted in 03 - March 2014, Form W-2, Internal Revenue Service, Tax Information | Leave a comment