As tax season comes to a close and your ministerial staff starts getting their returns, they might want to re-think their housing allowance for 2022. Here’s a quick “how-to” to simplify that process!
To satisfy IRS requirements, churches are responsible for 3 key things:
Remember the housing allowance follows the tax year, not the fiscal year and it is always future, never retroactive. Ministers are responsible for estimated housing, tracking the actual expenses, and reporting unused housing as taxable income.
Original content by the HR Ministry Solutions . This information is provided with the understanding that Payroll Partners is not rendering legal, human resources, or other professional advice or service. Professional advice on specific issues should be sought from a lawyer, HR consultant or other professional.
