Contact: Nate Johnson, Christianity Today International, 630-260-6200 ext 4740

CAROL STREAM, Ill., Feb. 28, 2011 /Christian Newswire/ -- The March/April issue of the Church Law & Tax Report releases and offers church and clergy leaders timely insights for the preparation of 2010 tax returns. Richard Hammar (J.D., LL.M., CPA) presents 20 costly tax-filing mistakes frequently made, and provides explanations to ministry leaders on how best to avoid them. Highlights include:

Error No. 2: Reporting income taxes as self-employed.
Error No. 8: Failure to report income associated with below-market interest loans.
Error No. 9: Inadequate records to substantiate business expenses.

Hammar also offers further clarification to the extended provisions of the Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010, which affects 2010 tax returns. The most relevant changes to clergy and church staff are the child tax credit and an extension of a provision allowing businesses or churches to claim an enhanced deduction for the contribution of a food inventory.

To stay current on changing tax developments relevant to the church, pastors can subscribe to the Church Law & Tax Report by clicking here.

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Christianity Today International is a not-for-profit communications ministry that serves the global church through print magazines, digital publications, websites and blogs which together reach over 2.5 million people each month. For more information, visit www.christianitytoday.com.

About Church Law & Tax Report:
Church Law & Tax Report is published bimonthly and provides practical information to church leaders on important legal and tax developments directly impacting ministry.