We started a ministry and are starting to receive substantial donations. In response to our blessing regarding growth, we got a EIN number, fictious name and bank account.
We are now tracking our accounting much better. We are going to giving out our yearly contributions statements this year.
My question is the following>>>>Without a 501c3 can we be taxed on the donations that we have received from that year? I was concerned that we will issue out all this statements and end up getting a bill one day or something..lol BTW we are from VA