Understanding the Aspects of Clergy Taxation

$219.00

SKU: 410125

Description

Better understand how to assist religious organizations in keeping their exemption and what pitfalls to look.
Although churches and other religious organizations are generally tax exempt, tax is a pervasive issue for religious organizations and clergy. Attendees can expect to gain a deeper understanding of the taxation of clergy and churches. Especially in regard to assisting religious organizations keep their exemption, what pitfalls to look for when representing a religious organization, and how to assist religious organizations if they are subject to tax inquire by the Internal Revenue Service. This workshop is critical for practitioners who represent churches or clergy members.

Date: 2024-07-11 Start Time: 1:00 PM ET End Time: 2:40 PM ET

Learning Objectives

* You will be able to define Clergy, Religious Organization, and Church.

* You will be able to discuss the process of a tax inquiry and church examination.

* You will be able to explain the rules surrounding charitable deductions and 170.

* You will be able to recognize potential pitfalls relating to prohibited church activities.

Background Information and Definitions
• What Is a Religious Organization
• What Is a Church
• Who Are the Clergy
• Recognition of Tax-Exempt Status Under § 501
• Organizational and Operational Tests
• Public Benefit Doctrine

Clergy Wages
• Reporting Rules
• Parsonage Allowance
• Social Security
• Exemption for Clergy
• Difference Between How Wages Are Reported V Social Security for Clergy
• Church Employees

The Charitable Contribution Deduction
• What Is a Charitable Contribution Under § 170?
• Substantiation Requirements
• Planned Giving Devices

Church Audits and § 7611
• General Prohibition of Audits of Churches
• Church Tax Inquiries Under § 7611
• Prohibition Against Repeated Examinations

Pitfalls
• Unrelated Business Taxable Income
• Excess Benefit Transactions
• Excess Executive Compensation
• Restrictions of Political Activates/ Campaigning

AIPB ,Enrolled Agents ,CPE ,Additional credit may be available upon request. Contact Lorman at 866-352-9540 for further information.

Mark Mesler, Esq.-Asbury Law Firm, Andrew R. Vazquez, Esq. – Asbury Law Firm