Key Tax Developments for 2024

A number of key tax developments in 2023 will affect church and clergy taxes in 2024.

A number of key tax developments in 2023 will affect church and clergy taxes for 2024.

As always, the Church Law & Tax team is at the forefront of identifying, and explaining, what these important developments mean to pastors and church leaders.

Ten developments, in particular, caught our collective eye. They are:

  1. No new legal challenges to the housing allowance
  2. No changes to social security exemption revocation rules
  3. Income limits for those working after retirement in 2024
  4. Inflation adjustment for 2023 tax returns
  5. Maximum earned income credit for three or more qualifying children
  6. Simplified definition of a highly compensated employee
  7. IRS strips nonprofit of its tax-exempt status
  8. IRS calls off unannounced taxpayer visits
  9. IRS addresses inurement, intermediate sanctions, and the definition of a church
  10. IRS revokes tax-exempt status of a religious charity

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