As I travel across the country assisting Churches and Clergy with their Church books and records I am constantly amazed at the number of Churches and Pastors who feel as if they are not required or should not obtain a legal 501(c)(3) exemption for their Church and Ministry. Nothing could be further from the truth. Mr. Jack Taylor of the Indianapolis Baptist Temple (IBT) was denied tax-deduction credit for his donations. The Internal Revenue Service and the Court Judge declared that Mr. Taylor did not prove that IBT was a legitimate church. The Judge declared that all donations for tax credit were solely at the mercy of the IRS and its agents. This snafu cost Mr. Taylor a lot of money in back taxes, penalties, and interest. |
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September 2020
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