End of Year Tax Statements

Discuss where to obtain or how to fill out specific reports or forms.
russellhltn
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Re: End of Year Tax Statements

Postby russellhltn » Tue Jan 19, 2021 12:37 pm

jpjones~ogr wrote:It seems odd that current technology doesn't seem to be able to do so.
I'm not sure of all the factors, but I'd think part of it is to make sure all the checks deposited in those "Dec 31st" batches, (which might have actually been processed on the first or second Sunday in January) go though and don't bounce (resulting in a cancelation of the donation).

If true, it wouldn't be a limitation of the Church's tech as much as the banking system.
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jpjones~ogr
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Re: End of Year Tax Statements

Postby jpjones~ogr » Tue Jan 19, 2021 11:52 pm

We've been encouraging members to make the switch regarding their statements, and a few have. Maybe more have during 2020. We'll include another note of encouragement with statements we mail this year. Our unit has a higher median age which can affect rate of change, though they were quick to adopt on-line donations shortly after they were available.

I'm not sure check processing would slow things down this much. I remember big late December batches years ago. For the past couple years our live donations have commonly been 6 or less per week, even during tithing settlement. However, my frame of reference is limited to our stake.

In addition to last minute deposits, changes in related bank rules or even internal bank policy could have negative impact.

Oh well. It is what it is, and being recently retired means it's easier to keep up.

Happy New Year !!

karenpellett
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Re: End of Year Tax Statements

Postby karenpellett » Sun Jan 24, 2021 9:54 am

Both my wife and I have been submitting tithes through the website, me with my login and she with hers. We both can see the donations on the website. When looking at the tax statement, however, both of us get a statement that shows only donations submitted through my account.
How can we get this adjusted to show all donations, from both of us, through the year?

lajackson
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Re: End of Year Tax Statements

Postby lajackson » Sun Jan 24, 2021 11:53 am

karenpellett wrote:Both my wife and I have been submitting tithes through the website, me with my login and she with hers. We both can see the donations on the website. When looking at the tax statement, however, both of us get a statement that shows only donations submitted through my account.
She should get a statement showing donations made through her account sign on. If this is not happening, she should ask the clerk to help her contact the Global Services Center for assistance.

Because donations are recorded to individual accounts, you will have two tax statements, one for donations made through your account and one for donations made through her account, even though you both are contributing for both of you. There is not a way that I know of to combine the statememts.

davesudweeks
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Re: End of Year Tax Statements

Postby davesudweeks » Sun Jan 24, 2021 6:29 pm

There is a checkbox in the settings to show both spouse names on each statement (you each have to make the change), but as lajackson stated, if 2 different people make donations, there will be 2 statements. The church has no idea what your tax filing status will be (joint or individual) so I think they have selected the best option. It is easy to combine both amounts when filing your taxes, but if a couple were each filing separately, having them combined could make things difficult.

russellhltn
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Re: End of Year Tax Statements

Postby russellhltn » Sun Jan 24, 2021 6:39 pm

karenpellett wrote:however, both of us get a statement that shows only donations submitted through my account.
So, when she logs into her account, she only sees your donations? Add all her donations were done on that account? That's odd.

I'd double check what account she's signed in under. I'd also check the history. If for some reasons, the donations didn't go though (wrong bank account?), they will be canceled.
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Atohanie
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Re: End of Year Tax Statements

Postby Atohanie » Mon Jan 25, 2021 10:45 am

Turned out to be some sort of caching issue. When she logged onto her donations using her machine, she got the correct statement. Thanks for all the ideas and direction.

davesudweeks
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Re: End of Year Tax Statements

Postby davesudweeks » Mon Jan 25, 2021 11:25 am

Atohanie wrote:Turned out to be some sort of caching issue. When she logged onto her donations using her machine, she got the correct statement. Thanks for all the ideas and direction.
I'm glad this was resolved for her!

fussmi
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Re: End of Year Tax Statements

Postby fussmi » Tue Jan 26, 2021 2:20 pm

How do I get a year end statement for a deceased member when the member's record has been moved out of the ward? The surviving spouse needs the report for tax purposes

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kd7mha
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Re: End of Year Tax Statements

Postby kd7mha » Tue Jan 26, 2021 4:24 pm

In LCR Finance -> Tithing Settlement -> Year End Statement -> Generate New Statement

I have needed to do this almost every year since becoming a clerk
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