Independent missionaries are occasionally invited to our church forevents. For the services provided, they are given honorarium. However,sometimes, the church mission board decides to provide one-time support for themissionary and the money is disbursed from the mission fund. Does this meanthat the church has to assume the role of a missionary agency and requireaccountability and reporting for this sum of money in the following months?
Answer:
Achurch that supports an independent missionary will need to issue him or her aForm 1099-MISC at the end of each year, reporting all distributions (assumingthey amount to at least $600). This is not necessary for missionariescommissioned by or associated with recognized missions agencies and who receiveW–2 or 1099 forms directly from their missions’ agencies. In order to issue aForm 1099-MISC, a church will need to know the missionary’s address and socialsecurity number. This information can be obtained by having the missionarycomplete and submit IRS Form W–9 prior to any distribution.
The members of my FederalTaxation I class at Maranatha Baptist Bible College in Watertown, Wisconsinhave taken on the challenge of study and research to answer posted questions. JeremyMattson of Green Bay, Wisconsin gets credit for this one.
Hiç yorum yok:
Yorum Gönder