Tax Law (Questions About Taxes)/Received 1099-K

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Question
In 2011 I created a Paypal account for my Catholic parish and school for use as payment for a fundraiser dinner/auction.  I did not receive a 1099-K for 2011 (maybe since the charges were under a couple hundred dollars?) but I did receive one for 2012.  I used my name on the account since I was the one that would call Paypal for support questions.  My name is used as the payee on the form but the address is for the church.

I did not use my company EIN when setting up the account and when I was working with Paypal to set up this nonprofit account it looks like they used the EIN for U.S. Conference of Catholic Bishops.

Is this something I need to be concerned about since it does not have my EIN on it?  I never dealt with any of the money since it was transferred by the parish staff from the Paypal account directly to the parish back accounts.  

Thanks for your time and I appreciate any help or advice you can give me.

Answer
Jeff,

Thanks for your question.

You did not get one in 2011 because they were not issued, to my knowledge.

Yes, this is something you should definitely be concerned with as the income will be attributed by the IRS to the EIN that is on the form. It should carry the EIN of your parish, in all likelihood.  

If the parish does not have one, it may need to obtain one. Or find a proper EIN to give to PayPal. I would presume that the parish does not file any tax returns, but are handled at another level above the parish level ( not familiar with the structure in the Catholic Church from the financial side).

Hope this helps.

John Stancil, CPA

Tax Law (Questions About Taxes)

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John Stancil, CPA

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I can answer questions on personal income taxes, partnerships, and some corporate income taxes. I can deal with some state tax questions. Limited gift and estate tax questions. I am also familiar with ministerial and church tax reporting issues. I am Professor Emeritus at Florida Southern College. Sales taxes and property taxes are state and local issues so I am not likely be be able to give you an in depth answer on those types of taxes. I have maintained a CPA practice, specializing in tax, for over 35 years. I am a member of the National Association of Tax Professionals, The Florida Insititute of CPA's, The NCPE Fellowship. In addition I am a Certified Mentor for SCORE. Visit my website at www.mybaldcpa.com. I also offer seminars and consultations to churches and clergy on their tax issues at www.churchtaxsolutions.com Also visit my blog, www.thetaxdocspot.com. I am listed on Tax Connections at https://www.taxconnections.com/profile/John-Stancil/12258973 Prepare and file your own taxes at www.1040stancilcpa.com

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I hold a doctorate in Accounting, and am a CPA. My certifications of CIA, CFM, and CMA are inactive. I passed all certification examinations on the first attempt, and received honorable mention for my scores on the CIA exam. I have operated a CPA firm for over 37 years and have taught accounting and tax at the college level for over 35 years.

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FICPA, NATP, NCPE Fellowship, Lakeland Business Leaders

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The CPA Journal, Florida CPA Today, Green Consumer, Green Business, Global Sustainability as a Business Imperative, Palmetto Review, NATP TaxPro Quarterly, Mustang Journal of Finance and Accounting.

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DBA University of Memphis MBA University of Georgia BS in Accounting Mars Hill University

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