Quote:
Originally Posted by ManOfWord
Not so. According to our By-Laws, the board sets the pastor's salary. I have no relatives who serve on the board. I have never read in ANY IRS publication stating that there has to be an independent financial committee to set salaries. As President of the corporation, our By-Laws state that I set the salaries of my employees and the board sets my salary. We have always been IRS compliant since I have been pastor. Our accountant is an Enrolled Agent with the IRS and handles the finances of many ministries and that has never come up.  |
Also don't forget that your bylaws were set up through an agency of your state requiring that they comply with state regulations, not that they confirm to IRS code. These are two different agencies with their own specification. Your exempt status comes through the IRS your corporate status comes through the state.
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