On Dec. 20, 2017, Congress passed the Tax Cuts and Jobs Act (the “Act”) which represents the most substantial overhaul of the tax code since the 1990s. The Act brings significant changes to individual and corporate income tax filers. How will the Act affect tax exempt organizations — and specifically, religious organizations? Churches and […]Read More >
As your church settles down from Christmas celebrations, things are no doubt getting into full swing for the person managing all your church’s accounting. If that person is you, you likely still have several time-sensitive tasks on your horizon that need to get finished by January 31. Putting a good system in place can help keep you on track — and that’s what we’ve outlined for you below.Read More >
Depending on your role at the church, you’ll hear the word “audit” and come to one of two conclusions:
If you’re the finance manager, you understand the need for the substantiation of the integrity of the data — even though an audit can add to your already busy workload.
If you’re the pastor, it comes down to one word: “Why?” The financials are written in what appears to be a foreign language, and they don’t seem to help as you try to make good, mission-critical decisions, anyway.Read More >
Freedom from Religion Foundation is “trying to use the federal courts to destroy religious freedom and independence from government control,” said American Civil Rights Union Chairman Susan A. Carleson. WASHINGTON, April 14, 2014 /Christian Newswire — An Internal Revenue Service (IRS) rule allowing clergy to have a tax-exempt housing allowance is a reasonable accommodation of […]Read More >
By Robert Dilday ASSOCIATED BAPTIST PRESS — The Justice Department will appeal a federal court ruling last fall that allowing clergy to avoid paying taxes on a part of their income designated as a housing allowance violates the constitutionally mandated separation of church and state. The department filed a notice of appeal with the Seventh […]Read More >
FALLS CHURCH, Va. /PRNewswire-USNewswire/ — Tax Analysts, the nonprofit provider of federal, state, and international tax news and analysis, announced yesterday that in response to its Freedom of Information Act lawsuit against the IRS, the Service has released nearly 3,000 pages of training materials used for guidance by the exempt organizations determinations office. The documents […]Read More >