Category Archives: Form W-2

New Filing Date for W-2s and 1099s

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

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

The Earned Income Tax Credit

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

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

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

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