Beware of emails claiming to be from IRS

Bogus email scams are resurfacing, including one involving payments allegedly rejected by the Electronic Federal Tax Payment System. The email has a link that may download malicious software. Information on what to do if you receive a suspicious IRS-related communication is available on IRS.gov. Source: IRS.com Clergy Financial Resources https://www.clergytaxnet.com Clergy Financial Resources is a…

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Summer Day Camp Expenses May Qualify for a Tax Credit For Clergy

Along with the lazy, hazy days of summer come some extra expenses, including summer day camp. Clergy Financial Resources has some good news for parents: those added expenses may help you qualify for a tax credit. Many parents who work or are looking for work must arrange for care of their children under 13 years…

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Get Answers To Your Church & Clergy Tax Law Questions

Ministers are treated differently under the tax code than virtually anybody else in the country. They have advantages and disadvantages that no one else has. Often, confusion exists concerning clergy compensation, deductions and expenses. Our clergy tax professionals can sort out the complexity of clergy tax law. We will research and answer your questions and…

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Lawsuit Challenging Clergy Housing Allowance Dropped

In 2009, the atheist group ” Freedom from Religion Foundation” filed a lawsuit challenging the constitutionality of Sections 107 and 265(1)(6) of the federal tax code, which establishes the housing allowance for ministers. Their argument stated that the unique benefit set aside for “ministers of the gospel” is a violation of the separation of church…

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IRS Adjusts 2011 Mileage Rates

WASHINGTON — The Internal Revenue Service today (June 23, 2011) announced an increase in the optional standard mileage rates for the final six months of 2011. Taxpayers may use the optional standard rates to calculate the deductible costs of operating an automobile for business and other purposes. The rate will increase to 55.5 cents a…

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Department of Justice Appeals “Multiple Home” Housing Allowance Ruling

On May 24, 2011, the United States Department of Justice appealed the tax court decision made in the Philip Driscoll housing allowance case. In December 2010, the United States Tax Court ruled that clergy could use the parsonage allowance exclusion for two homes as long as they are both used exclusively as personal residences. Related…

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Five Tips for Clergy Paying Estimated Taxes

Estimated tax is a method used to pay tax on income that is not subject to withholding.  Most clergy are exempt from tax withholdings and FICA. You must pay estimated taxes during the year based on your ministry income. These five tips from Clergy Financial Resources will provide you with a quick look at estimated…

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2011 IRS Audit Red Flag for Clergy

Here is a hot spot on clergy returns that can raise the chances of scrutiny by the IRS. Ever wonder why some tax returns are audited by the IRS while most are ignored? Well, there’s a whole host of reasons to this age-old question. The IRS audits only about 1% of all individual tax returns…

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President Signs Form 1099 Repeal Legislation – How It Will Affect Churches

On April 14, President Obama signed legislation repealing the Form 1099 filing requirements that were imposed under the Small Business Jobs Act and the Pension Protection and Affordable Care Act. The rules would have required churches to report any purchases of goods or services of more than $600 a year from another vendor to the…

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