Every church and minister will be impacted
Article summary. In August the President signed into law two major tax bills-the Taxpayer Relief Act and the Balanced Budget Act. These new laws contain a number of provisions that will be of interest to ministers and churches. The more important provisions are summarized in this feature article, with several examples and a review of all effective dates.
Once again Congress has enacted sweeping tax changes that will impact every taxpayer. This article will review those provisions of greatest relevance to ministers and churches.
• Key point. The Taxpayer Relief Act was passed by huge majorities in Congress (389—43 in the House, and 92—8 in ...