IRS Offer Temporary Relief For Churches That Pay Individual Health Premiums
IRS Clarifies Individual Health Plan Premium Reimbursements The IRS recently issued a notice that provides transitional relief to churches who provide reimbursements for their employees to purchase individual health insurance. Prior to this latest guidance, any reimbursed premiums and other medical reimbursement arrangements would be included as taxable income in 2014. As with all things…
IRS Announces 2015 Mileage Rates
The Internal Revenue Service has announced the 2015 optional standard mileage rates used to calculate the deductible costs of operating an automobile for ministry, business, charitable, medical or moving purposes. The ministry/business rate is increasing from the 2014 rate, while the medical and moving mileage rates are decreasing from last year. The charitable rate is…
Health Insurance Reimbursement Laws Have Changed…Is Your Church Still In Compliance?
Churches are prohibited from reimbursing employees for the cost of their individual health insurance policies on a nontaxable basis, regardless of whether the coverage is purchased through a Marketplace or directly from a carrier. Any payment for individual health insurance will be taxable income. Group health insurance premiums for employees paid directly by the church…
IRS Updates Mileage Rates for 2014
The Internal Revenue Service today issued the 2014 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. The business, medical, and moving mileage rates are decreasing from the 2013 rates. The charitable rate is remaining the same. Beginning on Jan. 1, 2014, the…
Using a Church Credit Card?
Churches often provide their employees with church credit cards. The church should have a credit card policy which indicates the card should never be used for employee’s personal expenses and should only be used for ministry related expenses. If personal expenses have been paid with this card, these amounts do need to be reported as…
IRS Updates Mileage Rates for 2013
The Internal Revenue Service has issued the 2013 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. Beginning on Jan. 1, 2013, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be: 56.5 cents per…
IRS Updates 2012 Business and Ministry Mileage Rates
The Internal Revenue Service has issued its 2012 optional standard mileage rates that can be used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. Beginning Jan. 1, the standard mileage rates for the use of a car, van, pickup or panel truck will be 55.5 cents per…
IRS Adjusts 2011 Mileage Rates
WASHINGTON — The Internal Revenue Service today (June 23, 2011) announced an increase in the optional standard mileage rates for the final six months of 2011. Taxpayers may use the optional standard rates to calculate the deductible costs of operating an automobile for business and other purposes. The rate will increase to 55.5 cents a…
IRS Updates Mileage Rates for 2011
2011 Standard Mileage Rates The Internal Revenue Service issued the 2011 standard mileage rates used to calculate the deductible costs of operating an automobile for ministry, business, charitable, medical or moving purposes. Beginning on Jan. 1, 2011, the standard mileage rates for the use of a car (also vans, or pickups ) are listed below….
Church Paying for Cell Phone and Automobile
Reader Question: We (the church) pays for a cell phone and vehicle for our pastor. The church pays the insurance and owns the car but he is the only one that drives it. Do either of these “benefits” need to be taxable? P.A. Yes, both of these benefits are taxable. However, they are only partially…
