Most churches will issue a Form W-2 to a minister for their compensation if the minister is considered an employee of the church. The determination of whether a minister is an employee or an independent contractor is crucial in deciding whether to issue Form W-2 or...
W2
Watch Out for Form W-2 Pitfalls
At the end of every year, most businesses go through the process of filling out a Form W-2 for each employee, which can make for a very stressful time. The pressure of knowing that even the smallest of mistakes can result in costly consequences can make business...
SECURE 2.0 Act changes affect how businesses complete Forms W-2
The Internal Revenue Service reminds businesses that starting in tax year 2023 changes under the SECURE 2.0 Act may affect the amounts they need to report on their Forms W-2. The SECURE 2.0 Act allows for additional features in various employer retirement plans to...