Evangelical Council for Financial Accountability (ECFA)
HOME ABOUT ECFA STANDARDS & BEST PRACTICES JOIN ECFA MEMBERSHIP RENEWAL ECFA STORE
   
My Account
Welcome to the ECFA website!
REGISTER FOR FREE!
ALREADY REGISTERED? CLICK HERE TO SIGN IN!
Member Search
Member Name (Any portion)
Member Name (First Letter)
State
Ministry Type
Related Links
Join ECFA
ECFA Membership Renewal
Compensation Data
Website Registration
ECFA Contact Information
Ask Us a Question
Refer this site to a friend
Favorite Links and Information
Charter Members
Newest Members
Name Changes & Mergers
Event Registration
Speaking Schedule
FOCUS on Accountability
Press Releases
CPA Directory
Dan Busby's Blog  Dan Busby's Blog
Follow ECFA on Twitter  Follow ECFA on Twitter
Follow ECFA on Facebook  Follow ECFA on Facebook
Follow ECFA on YouTube  Follow ECFA on YouTube
First-time visitor to this site?
Ask a Question
Contact Us
Refer ECFA website to friend
Ministers Will Get Special Attention from Auditors
Printer Friendly Printer Friendly

A new audit guide published by the IRS tell examiners to be on the lookout for several potential trouble spots. 

The IRS highlights the possibility of incorrectly figuring the tax-free housing allowance and failing to pay Self-Employment Contributions Act (SECA) social security tax on it. The IRS is also focusing on wrongfully claiming to be exempt from SECA tax and deducting business expenses that are attributable to tax-exempt income (such as the housing allowance). The application of the so-called "Deason" rule regarding expenses related to tax-exempt income could be especially troubling as few ministers follow this rule.

http://www.irs.gov/businesses/small/article/0,,id=210018,00.html

Source:  Internal Revenue Service

EVANGELICAL COUNCIL FOR FINANCIAL ACCOUNTABILITY®
For more information call 800-323-9473
The name Evangelical Council for Financial Accountability®, ServantMatch™, the acronym ECFA®,
the taglines A Higher Standard. A Higher Purpose®, Applying a Higher Standard. Serving a Higher Purpose®,
Seven Standards of Responsible Stewardship™, and the ECFA seal are trademarks of the Evangelical Council for Financial Accountability®.