$800M Tax Hike for Ministers? Judge Kills 'Most Important Tax Benefit'
(Worthy News) - For 60 years, ministers and clergy in the U.S. have relied on an IRS law that allows them a tax-exempt housing allowance. Now that key exemption is at risk.
GuideStone Financial Resources calls it the "most important tax benefit available to ministers." And Christianity Today reports, the congressional Joint Committee on Taxation estimates the break is worth $800 million a year to American ministers.
But a federal judge in Wisconsin has now ruled that the tax break violates the establishment clause of the First Amendment. [ Source: CBN News (Read More...) ]
Copyright 1999-2017 Worthy News. All rights reserved.
Fair Use Notice:This site contains copyrighted material the use of which has not always been specifically authorized by the copyright owner. We are making such material available in our efforts to advance understanding of environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc. We believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have expressed a prior interest in receiving the included information for research and educational purposes. For more information go to: http://www.law.cornell.edu/uscode/17/107.shtml. If you wish to use copyrighted material from this site for purposes of your own that go beyond 'fair use', you must obtain permission from the copyright owner.