Mastering the 2025 tax season just got alot easier, thanks to this 75-minute webinar hosted by Church Law & Tax editor and attorney Matthew Branaugh. Spend some time hitting the highlights, and kickstart the 2025 tax season for church leaders and clergy members.
CPA Elaine Sommerville, who is also a Church Law & Tax Senior Editorial Advisor, offers her insights for mastering the 2025 tax season:
- Filing requirements for January 31, 2025 to include payroll tax returns (Form 941), and W-2s.
- Form 1099: reviewing vendor payments and verifying vendor information
- 2025 payroll: ensuring everything is properly setup and ready to go for the year, including housing allowances and tax deposit requirements
Meanwhile, Sommerville covers a host of other beginning-of-the-year tasks including:
- Contribution receipts preparation
- Worker classification review
- FICA/Medicare taxes for credentialed ministers
- Update mileage rate reimbursement accounts to match newly established levels
Sommerville also mentions the importance of taking this time to review existing retirement plans to include:
- Understanding how new laws are affecting plan documents and amendments
- Determining whether it’s time to redefine acceptable hardship distributions
- Addressing catch up provisions for those between the ages 60 to 63
Meanwhile, don’t forget to stop by the Church Law & Tax store and pick up a copy of our “2025 Clergy Tax Prep Guide” along with “Federal Reporting Requirements for Churches.” Both are available in PDF format.