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Social Security - Part 2

Federal
State:

Ministers considering the revocation of their exemption from social security taxes (see the March-April 1987 issue of Church Law & Tax Report) should not delay in making a decision. While the deadline for filing the application to revoke one's exemption from social security coverage (Form 2031) may be filed as late as April 15, 1988, a minister who waives his exemption must begin paying social security taxes no later than January 1, 1987. The longer a minister delays in making a decision on this important question, the less likely it will be that he or she will have the financial resources to pay the accumulated tax liability.

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Posted:
  • May 1, 1987

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