Jump directly to the content

The Implications of Terrorism for Church Treasurers

In the aftermath of the September 11 attacks, treasurers need to be aware of charitable contribution requirements, church assistance options, and insurance issues.

The devastating terrorist attacks on New York City and Washington, DC, raise a number of important issues for church treasurers. Some of the more important issues are addressed in this article.

1. Tax Relief

When disasters strike, the IRS often responds by providing victims with various forms of relief. In the wake of the terrorist attacks on New York City and Washington, DC, the IRS has announced the following:

  • Taxpayers who suffered property losses because of the terrorist attacks can get a quick tax refund by claiming these losses on an amended return for 2000 rather than claiming them on their 2001 return.
  • "Directly affected" taxpayers have until January 15, 2002 to file their September 17, 2001 estimated tax payment (for the third quarter of the year). Affected taxpayers make this payment with their final 2001 estimated payment on January 15, 2002. Taxpayers entitled to this relief should write "September 11-Terrorist Attack" in red ink at the top of the returns they file (Form 1040-ES). Taxpayers who qualify for this relief include all relief workers, airplane crash victims, and people who work, or whose tax records are kept, in the disaster areas. Residents of New York City's five boroughs, and of Arlington County where the Pentagon is located, will also qualify for this relief.

Join now to access this member-only content

Become a Member

Already a member? for full access.

Related Topics:
  • November 1, 2001

Related ResourcesVisit Store

2020 Church & Clergy Tax Guide
2020 Church & Clergy Tax Guide
Find comprehensive help understanding United States tax laws as they relate to pastors and churches.
Talking to Your Congregation About Money
Talking to Your Congregation About Money
Helpful insights on talking about money and encouraging people to become generous givers.
Best Practices for Technology Usage
Best Practices for Technology Usage
Establish policies and best practices to govern the use of technology for church staff.
Church Fundraising Campaigns
Church Fundraising Campaigns
Discover tips on raising and borrowing money.