$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...) ]
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