Believe it or not, we are almost six months through the year. If you are a member of the clergy who is treated as self-employed in regards to Social Security and Medicare taxes, your second quarter estimated payment is due on 6/17/2019.
The United States has a pay-as-you-go tax system. The Internal Revenue Service expects taxpayers to pay their taxes as they earn income throughout the year, rather than waiting until the very last minute at the end of the year to make payments. Making your estimated payments on-time and in-full helps prevent getting an estimated tax penalty at the end of year.
Do you have questions about your estimated payments? Do you need them recalculated due to a change in income? Clergy Financial Resources calculates your estimated payments for you as part of our 1040 review process. Visit https://www.clergytaxnet.com/services/clergy-tax-preparation/ for more details about hiring CFR for your 1040 needs.
Clergy Financial Resources serves as a resource for clients to help analyze the complexity of clergy tax law, church payroll & HR issues. Our professionals are committed to helping clients stay informed about tax news, developments and trends in various specialty areas.
This article is intended to provide readers with guidance in tax matters. The article does not constitute, and should not be treated as professional advice regarding the use of any particular tax technique. Every effort has been made to assure the accuracy of the information. Clergy Financial Resources and the author do not assume responsibility for any individual’s reliance upon the information provided in the article. Readers should independently verify all information before applying it to a particular fact situation, and should independently determine the impact of any particular tax planning technique. If you are seeking legal advice, you are encouraged to consult an attorney.
For more information or if you need additional assistance, please use the contact information below.
Clergy Financial Resources
11214 86th Avenue N.
Maple Grove, MN 55369
Tel: (763) 425-8778
Fax: (888) 876-5101