"It appears non-commercial transactions will be included; there's no mention of a distinction in the IRS instructions for completing the form. In one way this is going to be a shock to some people. We have a church client that receives most of its monthly contributions through Zelle. On the other hand, if there were a distinction we might see parties such as PP clamping down on the use of F&F. I see the PP page mentioned above, but there's no mention of F&F transactions being exempt. And again, the IRS instructions for the form don't appear to allow for an exemption for non-commercial transactions. I'd really, really like to be wrong about this, but I believe I'm correct."
Just a note, and I don't know if this is true for Zelle, but when I set up pay pal for our synagogue's card show, I set it up with Pay Pal as a non-profit and sent in the 501C form we received when we 1st began. So if the church did not set it up as a non-profit, they need to fix that ASAP.
I also give out donation sheets to our vendors (in the past since our last show thanks to COVID was March 2020) and anyone who donates us cards or prizes who wishes to receive those notes. I have had a couple of major donators need the 501-C form as well for their tax preparers and that has been sufficient for their needs. So I would presume if the prep work by the church was done correctly then there should be no real effect on them
Rich
Bill[/QUOTE]
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Last edited by Rich Klein; 01-02-2022 at 05:12 PM.
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