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6/12/2010 12:55:43 PM
QUOTE,"이 결정은 다시 변경할 수 없는 것인가요?"--- Yo bud, as u can see, Ministerial income is exempt from SECA only if ministers have opted out of Social Security by filing IRS Form 4361(as u did) and have been opted from Social Security by the Internal Revenue Service (IRS). So Once u claim the exemption, u cannot revoke the election. Although the income you earn is not subject to self-employment tax if the election is granted, you can use the income as the basis for contributions to a qualified retirement plan, such as a Keogh plan or individual 401(k).
Nonetheless, if ministers opt back into Social Security by filing IRS Form 2031, they must not only pay the current year's self-employment tax, but they may be liable for self-employment taxes for the three previous years.
" 다시 가입이 가능한 길이 없는 지 여쭙습니다"---REMEMBER! Once the exemption is revoked, u cannot re-apply for exemption from Self-Employment Tax.To revoke the exemption, complete and file Form 2031, Revocation of Exemption From Self-Employment Tax for Use by Ministers, Members of Religious Orders and Christian Science Practitioners. For reference, Under a normal voluntary withholding agreement, u as an employees of church can ask ur church to withhold an amount sufficient to cover both ur income tax and Self-employment tax liabilit, SECA tax I mean,.However, the church must report as income all amounts withheld under the agreement. Actually, many ministers who have volunteer-withholding agreements pay quarterly estimated taxes, using IRS Form 1040-ES.
Hope this helps!!!
Nonetheless, if ministers opt back into Social Security by filing IRS Form 2031, they must not only pay the current year's self-employment tax, but they may be liable for self-employment taxes for the three previous years.
" 다시 가입이 가능한 길이 없는 지 여쭙습니다"---REMEMBER! Once the exemption is revoked, u cannot re-apply for exemption from Self-Employment Tax.To revoke the exemption, complete and file Form 2031, Revocation of Exemption From Self-Employment Tax for Use by Ministers, Members of Religious Orders and Christian Science Practitioners. For reference, Under a normal voluntary withholding agreement, u as an employees of church can ask ur church to withhold an amount sufficient to cover both ur income tax and Self-employment tax liabilit, SECA tax I mean,.However, the church must report as income all amounts withheld under the agreement. Actually, many ministers who have volunteer-withholding agreements pay quarterly estimated taxes, using IRS Form 1040-ES.
Hope this helps!!!
