The U.S. Tax Court recently issued a precedential opinion in Soroban Capital v. Commissioner, holding that the limited partner exception to the Self-Employed Contributions Act (SECA).
The likelihood of a church being audited is low, but churches still must be familiar with current IRS guidelines, says Lee Wright, church compensation specialist for the Alabama Baptist State Board of Missions.
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As Congress heads into 2024 and President Biden starts the last year of his term, a host of tax issues remain unaddressed, including a much-anticipated expiring tax provisions package,.
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