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Churches that have established 403(b) tax-sheltered annuities for their ministers or employees must report any 1987 contributions funded through salary reduction agreement in Box 16 of Form W-2. Churches must also check the boxes entitled "Pension Plan" and "Deferred Compensation" under Box 5. This reporting has not been required in the past. IRS Announcement 87-93.

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Richard R. Hammar is an attorney, CPA and author specializing in legal and tax issues for churches and clergy.

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  • January 1, 1988

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