2nd Quarter Ministry Tax Calendar

By Raul Rivera

Can you believe that the first quarter of 2014 is almost behind us? This year has started out amazingly well. By the end of the 1st quarter, we will have conducted 15 Ultimate Structure Church Conferences. A focus of our conference is to not only help churches and ministries, startRIGHT^TM, but to also stayRIGHT^TM. Many of the churches that come started many years earlier, but did not startRIGHT^TM. When we encounter that, we first help a church GetRIGHT^TM. Today's article is to help your church meet its tax deadlines. Please feel free to call our office if you have any questions.

March 17^th:  If you have non-ministerial employees, the February 2014 payroll tax deposit is due.

March 17^th:  Due date of the tax return for your ministry's for-profit arm.

March 31^st:  If you chose to file W-2 and 1099-Misc electronically, file them now. If by paper, the due date was February 28^th.

April 15^th:  If you have non-ministerial employees, the March 2014 payroll tax deposit is due. 

April 15th:  If you are a minister of the gospel and you were ordained in 2012, your two year window to apply for personal self employment tax expires.  Your application must be mailed no later than this date.

April 15^th:  Ministers must make the estimated tax payment for the 1^st quarter of 2014 using form 1040ES. Only make this payment if you believe you will owe taxes for 2014.

April 15^th:  Your personal tax return is due. If you need to file for an extension, it must be mailed on or before this date. The extension is for 6 months. 

April 29^th:  Last day to file Form 8274. This is a form you can file after you hire employees, but before the first date on which a quarterly or annual employment tax return is due. If you hired any non-ministerial employees between January 1st and March 31st, 2014, your church may file for an exemption from payroll taxes.

April 30^th:  First quarter 941 payroll tax return for year due.

May 15^th:  If you have non-ministerial employees, the April 2014 payroll tax deposit is due.

May 15^th:  Your ministry's 990 tax return is due. If you are not ready to file it, send Form 8868. Now is a good time to review your IRS 501(c)(3) approval letter (letter 947) to see if the form describes your approval as a church. It will also say whether Form 990 is required.

May 15^th:  For churches and ministries: This is the last day to file for a healthcare tax credit. You must use Form 990-T and Form 8941. The Health Care Act gives a refundable tax credit of 25% of the cost of health care insurance that the church pays for its employees.

May 15^th:  If you have a church school or other 501(c)(3) school you must file Form 5578. This is an annual certification of racial nondiscrimination by a private school.

June 16^th:  If you have non-ministerial employees, the May 2014 payroll tax deposit is due.

June 16^th  If you are a minister, your second estimated quarterly tax payment for the year is due.