How can a minister save taxes with an accountable expense reimbursement plan? Should a church treasurer include the amount paid for a pastor’s housing allowance on the minister’s Form W-2? Is a love offering to a minister taxable?
If you’re wondering about the answers to these or similar questions, you’ll find them in these great resources: Reporting Procedures for Congregations and Preparing Tax Returns for Clergy.
These easy-to-use booklets are rich with information prepared by church tax specialists Dan Busby, J. Michael Martin, and John Van Drunen of the Evangelical Council for Financial Accountability (ECFA). They are updated annually to provide the latest, most accurate information possible.
The guides are designed to simplify the unique tax concerns faced by churches and pastors—matters which even paid preparers may not be aware of. In particular, the guide for ministers includes two examples of completed returns. Best of all, since Pensions and Benefits USA is a member, the ECFA makes them available to our clergy and churches at no cost.
“These guides are an invaluable resource for any minister or church treasurer who wants to stay informed about timely, correct information to comply with IRS rules and regulations,” said Don Walter, director of Pensions and Benefits USA. “We are grateful to Dan Busby and the ECFA for making them available to our ministers and churches.”
The 2016 editions of Reporting Procedures for Congregations and Preparing Tax Returns for Clergy will be available in early January under the Resources tab at pbusa.org.