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I have a question ??????

Discussion in 'Other Christian Denominations' started by Rev. Lowery, Jan 2, 2006.

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  1. Rev. Lowery

    Rev. Lowery New Member

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    By applying for an EIN for a Church and opening a checking account in the churches name does that qualify it as a business when apply I used my name and True Christ Ministries as the name.

    ??????according to the IRS

    Section 508(c) of the Internal Revenue Code provides that churches are not required to apply for recognition of Section 501(c)(3) status in order to be exempt from federal taxation or to receive tax deductible contributions. Churches are automatically exempt from Federal income tax, and contributions to churches are deductible by donors under section 170.

    So even if TCM is a business we dont have to pay taxes if I am reading this right and all contributions are tax deductible by the donor if I am correct?????

    Rev. Jerry D. Lowery D.D.
     
    #1 Rev. Lowery, Jan 2, 2006
  2. tamborine lady

    tamborine lady Active Member

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    [​IMG]

    I think you have to apply for a tax exempt # from the IRS.
     
    #2 tamborine lady, Jan 2, 2006
  3. hillclimber

    hillclimber New Member

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    If I were starting a new church I would push for not applying for 501C3 status. We could then be free to say whatever we want from the pulpit during election cycles. But don't listen to me, my church didn't. The arguement always comes down to MONEY.
     
    #3 hillclimber, Jan 2, 2006
  4. JamieinNH

    JamieinNH New Member

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    In reading the clip from the IRS, I would ask what their consider a church. It seems that churches wouldn't have to apply to be recognized as tax exempt.

    But what qualifies as being a church to the IRS?

    Here is a good PDF file from the IRS that might help:

    http://www.irs.gov/pub/irs-pdf/p1828.pdf

    Go to around page 5 and look at the topic Reconition of Tax-Exempt Status.


    Also, you can find more information here:

    http://www.irs.gov/charities/churches/index.html


    Jamie
     
    #4 JamieinNH, Jan 2, 2006
  5. gb93433

    gb93433 Active Member
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    The best thing to do is to call the IRS.
     
    #5 gb93433, Jan 2, 2006
  6. Rev. Lowery

    Rev. Lowery New Member

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    The IRS says a church is tax exempt automatically no filing is needed to be exempt a church is a group of people that simply call themselves a church all money a church brings in is exempt from tax and those contributing to the church are exempt as well if the church pays a pastor or staff the staff must file income tax but the church itself is exempt totally and completely. Is this how everyone else reads the code and the first amendment?

    Rev. Jerry D. Lowery D.D.
     
    #6 Rev. Lowery, Jan 3, 2006
  7. gb93433

    gb93433 Active Member
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    That is what I did when I started a church. I am not sure non churches would qualify. That is the reason why I suggested to contact the IRS.
     
    #7 gb93433, Jan 3, 2006
  8. Jim1999

    Jim1999 <img src =/Jim1999.jpg>

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    One, inexpensive visit with a chartered accountant should resolve all your issues, and seems like the wise thing to do. Tax departments don't always give the same answers if they are anything like in Canada.

    Cheers,

    Jim
     
    #8 Jim1999, Jan 3, 2006
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