This week, both the House and Senate passed an appropriations bill, which President Trump is expected to sign, that includes a repeal of the troubling tax on all nonprofits, including churches, found in Section 512(a)(7) of the Internal Revenue Code. If left in the tax code, this small provision would have extracted $1.7 billion from …
Continue...In a recent forum on LGBTQ issues for Democratic presidential candidates, former Texas Congressman Beto O’Rourke said that churches and other religious institutions that oppose same-sex marriage should lose their tax-exempt status. Andrew T. Walker wrote about O’Rourke’s statement. Here is what you should know about churches and tax exemption. What does it mean to …
Continue...Concerns and questions arose last year regarding an obscure provision in the Tax Cuts and Jobs Act of 2017—a provision requiring all employers, including churches, to pay an unrelated business income tax for parking provided to employees. Legal and accounting experts differed on how the so-called “parking lot tax” would work, and whether it would …
Continue...You may have read that ERLC president Russell Moore is calling on Congress to repeal a new tax on nonprofits, including houses of worship like the churches of the Southern Baptist Convention. As Moore wrote in a recent Wall Street Journal op-ed, “A little-noticed provision in the Tax Cuts and Jobs Act of 2017 now …
Continue...Now that the consumer-focused shopping events Black Friday and Cyber Monday have passed, many Americans will be supporting #GivingTuesday. This global event is the unofficial marker for the start of the charitable season, when many focus on their holiday and end-of-year giving. One of the main reasons charitable giving increases in December is because of …
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