Safeguarding Form 4361 – Opting out of Social Security

Safeguarding Form 4361 – Opting out of Social Security  A minister who wishes to be exempt from social security/Medicare tax must file a Form 4361 with the IRS for approval. Before your application can be approved, the IRS must verify that you are aware of the grounds for exemption and that you want the exemption…

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New Bill – Give Ministers the Opportunity to Opt-in to Social Security

Congressman Kevin McCarthy recently held a press conference with local pastors about his newly introduced bill, the Clergy Act. This bill would offer ministers – many of whom opted out of paying into Social Security in their youth – a two-year “open season” to effectively opt-in to Social Security. McCarthy released the following statement: “In…

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What New Clergy Need To Know – Opting Out of Social Security

File Form 4361 by the date your income tax return is due, including extensions, for the second tax year in which you have net earnings from self-employment of at least $400. This rule applies if any part of your net earnings for each of the 2 years came from your services. We also suggest to…

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