As in previous years, here are the steps we are taking for Affordable Care Act tax reporting for our conference for 2021: The Conference will file 1095-B forms for all of the participants on our health care plan. This means that local churches with less than 50 employees will not need to file any forms. The Conference… Continue Reading→
2022 IRS Standard Mileage Rates Released
On December 17, 2021, the Internal Revenue Service issued the 2022 standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. Beginning on Jan. 1, 2022, the standard mileage rates for the use of a car (also vans, pickups, or panel trucks) will be: 58.5… Continue Reading→
2017 Affordable Care Act Tax Reporting
As in previous years, here are the steps we are taking for Affordable Care Act tax reporting for our conference for 2017: The Conference will file 1095-B forms for all of our participants on our health care plan. This means that local churches with less than 50 employees will not need to file any forms. The Conference… Continue Reading→
Housing Allowance Case Update
As you may know, there is ongoing litigation concerning the constitutionality of the housing allowance provision in the Internal Revenue Code. Below is a summary of recent rulings. On October 6, 2017, the federal district court for the Western District of Wisconsin declared the tax-free housing allowance for clergy under Section 107(2) of the Internal Revenue… Continue Reading→
2016 Affordable Care Act Tax Reporting
As in 2015, here are the steps we are taking for Affordable Care Act tax reporting for our conference for 2016: The Conference filed 1095-B forms for all of our participants on our health care plan. This means that local churches with less than 50 employees will not need to file any forms. The Conference filed 1095-C… Continue Reading→
News Alert: IRS Gives Tax Relief to Victims of Hurricane Matthew
Taxpayers affected by Hurricane Matthew in Beaufort, Bertie, Bladen, Columbus, Cumberland, Edgecombe, Hoke, Johnston, Lenoir, Nash, Pitt, Robeson, Wayne and Wilson counties will receive special tax relief. The tax relief postpones various tax filing and payment deadlines that occurred starting on 10/04/2016. As a result, affected individuals and businesses will have until 3/15/2017 to file… Continue Reading→
IRS Warning: Beware of Phishing Email Schemes
The Internal Revenue Service issued an alert to payroll and human resources professionals yesterday to beware of an emerging phishing email scheme that purports to be from company executives and requests personal information on employees. The emails are designed to trick taxpayers into thinking these are official communications from the IRS or others in the tax… Continue Reading→
Faith and Money: Health Care Tax Credit Refunds Still Available
The Affordable Care Act offered non-profits up to a 25% refund of healthcare expenses incurred on behalf of clergy and lay employees. Many of our churches have filed for all of their refunds yet many outstanding claims still exist. Outstanding claims can still be filed and change money from the US Treasury to funds for… Continue Reading→