GuideStone, ERLC applaud House passage of Clergy Act
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“The Clergy Act is a bipartisan measure that would provide a temporary, voluntary opportunity for ministers who previously opted out of Social Security to opt back in.” - Baptist Press
As iron sharpens iron,
one person sharpens another. (Proverbs 27:17)
“The Clergy Act is a bipartisan measure that would provide a temporary, voluntary opportunity for ministers who previously opted out of Social Security to opt back in.” - Baptist Press
“Tax preparation software packages often do not address three tax rules applicable to duly ordained, licensed, or commissioned ministers who are paid for services performed in the exercise of their ministry.” - C.Leaders
“All told, 50 developments and changes should be noted by churches and clergy for 2025 federal tax returns and 2026 year-round compliance. We’ve highlighted the first five here.” - C.Leaders
“Absent an accountable reimbursement arrangement, the Internal Revenue Service … views any reimbursed business expenses paid by an employer to an employee as nonaccountable. And this creates taxable income for the employee.” - C.Leaders
“GuideStone Financial Resources has released its most popular annual publication, the 2024 Ministers’ Tax Guide for 2023 Returns prepared by Richard Hammar” - BPNews
“Despite recent legal cases and reports of greedy abuses, experts say the longstanding benefit remains safe.” - C.Today
“According to an investigative report by the Houston Chronicle, televangelist Kenneth Copeland has avoided paying $150,000 in annual taxes on his $7 million Texas mansion because of a loophole in the state’s tax code.” - C.Headlines
“The tax guide includes tax highlights for 2019 including changes based on the Tax Cuts and Jobs Act of 2017 and the current status of minister’s housing allowance after the recent 2019 litigation, along with step-by-step filing instructions for minister’s personal taxes and comprehensive examples and sample forms.” - Baptist Standard
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