We have partnered with Yearli. The integration will pull W-2 information from IconCMO into Yearli software. After creating a login the user can pull W-2 information from IconCMO via an export and import into Yearli for their W-2 filing. Yearli’s simple user interface will show the user what needs to be corrected before E-Filing
irs compliant software
Helpful hints – Protecting the Church’s Benevolence Ministry
If you haven’t read the first part in this two part series please read it here first. Do a little fact finding – A scenario may be a person asking the church to help them pay a bill like utilities, phone, or gas. It’s appropriate to call a company’s billing department and let them know… ⪼ Continue Reading…
6 Donation Mistakes to Avoid For Your Donors
Churches (or any nonprofit) input their donations in a donation software to ensure donors are provided a statement at the end of the year — not only for tax purposes but to communicate to the donors how their donations were used. Typically the statements are ran for the entire year (calendar year) irregardless what the church… ⪼ Continue Reading…
IRS – Reporting a Change in Responsible Party
Does your church need to report a change in its “responsible party”? What is the “responsible party” anyway? Basically, the responsible party is the person in charge of, or in control of, the church’s finances. It’s the person held answerable for the church’s financial activity. The IRS requires a church to identify someone as the… ⪼ Continue Reading…
Special Tax-Free Charitable Distributions for IRA Owners
Churches that accept IRA donations may want to consult with their CPA or keep their attention on updates from the IRS about this IRS tax deduction. IRA charitable distributions became law in 2015 by Congress. The following explanation from the IRS’ website should clarify. This provision offers older owners of individual retirement arrangements (IRAs) a… ⪼ Continue Reading…
How to Record Fundraiser Proceeds in IconCMO
You may be tempted to include the payments in with the regular offerings, but there’s just one little problem with that. You put an IRS disclosure on your donation statements saying something along the lines of “No goods or services were provided by the church in return for the donation.” Which poses another question: Can… ⪼ Continue Reading…