We collected money for a local family. Should that money be reflected on a 1099 misc. income form and given to the head of that household at the end of the year. Should a 1099 be issued anytime our church gives benevolence funds to individuals over $600?
2Comments
gifts
SSandi
added to 1099-misc:
It would depend on a few things, the main 2 are:
1)If the receiver of the gift provides ANY service (board members, musicians, Sunday school teachers, janitor, etc) see IRS Pub 15 series
2)the amount given see IRS Pub 950
With a side note:if any are employees (such as pastor & their family) than it would be added to the W-2
*giving to church Pastors & members could cause problems for the church and should be researched before hand to make sure you don't loose you tax exempt status*
Hope this helps,
Prayers
It would depend on a few things, the main 2 are:
1)If the receiver of the gift provides ANY service (board members, musicians, Sunday school teachers, janitor, etc) see IRS Pub 15 series
2)the amount given see IRS Pub 950
With a side note:if any are employees (such as pastor & their family) than it would be added to the W-2
*giving to church Pastors & members could cause problems for the church and should be researched before hand to make sure you don't loose you tax exempt status*
Hope this helps,
Prayers
Benevolence Payments Not Taxable to Recipient....Usually
VVickey
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