Year End Information for Church Treasurers

Important Deadlines:  


Donations to churches from individuals or businesses: Checks must be dated no later than December 31 in order to receive credit in that year.  


Churches should close their books on December 31.


Gateway Conference: January 5.  Checks must be dated no later than December 31 of the previous year.


FMCUSA:   Checks from Churches must be dated in that year.  Online gifts must be made no later than December 31.


Important reminder:  2019 W'2's & W'3's must be received at the Internal Revenue Service center by January 31.

For more information: https://www.irs.gov/pub/irs-prior/iw2w3--2018.pdf


Pension Changes-Any changes in salary at any time need to be reported to the World Ministries Center.  Don't forget to send information to them anytime there is a change in salary, etc.

To fill out a Change in Status for Pension form:  http://fmcusa.org/hr/forms/



Important information regarding moving expenses:  

IRS Tax Reform Tax Tip 2018-192, December 12, 2018

For businesses that have employees, there are changes to fringe benefits that can affect a business’s bottom line and their employee’s tax liabilities. One of these changes is to qualified moving expenses.

Under previous law, payment or reimbursement of an employee’s qualified moving expenses were not subject to income or employment taxes.

Under last year’s tax reform legislation, employers must include all moving expenses, in employees’ wages, subject to income and employment taxes.

For more information:  https://www.irs.gov/newsroom/tax-reform-brings-changes-to-qualified-moving-expenses