Friday, January 7, 2011
Senator Chuck Grassley has issued a press release and staff memo reporting on the result of his investigation of six high-profile television ministries and making recommendations for possible tax law changes relating to churches and ministries. The memo, available through a link at the bottom of the press release, is particularly interesting because it covers almost every possible hot topic in this area, including disclosure, compensation, housing allowances, love offerings, and electioneering. On the last item, the memo calls for limiting or eliminating the electioneering prohibition on churches.
In response to a related invitation from Senator Grassley, Christian news sources are reporting that the Evangelical Council for Financial Accountability (ECFA) will be holding a press conference today to announce the formation of an independent commission to consider major accountability and policy issues affecting churches and other religious organizations. According to Paul Streckfus of the EO Tax Journal, Matt Batts, CPA will chair the commission, and Dan Busby, ECFA President, will serve in an ex-officio capacity, with the other members still to be determined.
UPDATE: ECFA press release announcing commission.
UPDATE: NY Times "Tax-Exempt Ministries Avoid New Regulation"