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There was a case presented in my Ethics course this week that I'm still laughing about. A CPA paid an IRS agent $1,250 in a bribe. Not bad enough? He told the clients he was representing that the IRS agent wanted $2k, which the clients paid him and he pocketed the difference (and needless to say didn't report on his own tax return). I didn't really need an ethics course to instruct me not to try either maneuver.

Copied from currentfederaltaxdevelopements.com: "Before going on holiday break, the United States House of Representatives passed HR 5119, the Protect Small Business and Prevent Illicit Financial Activity Act, by a vote of 420-1. The bill can be found at https://www.congress.gov/bill/118th-congress/house-bill/5119/text. Changes to Initial Filing Deadlines The bill would make the following changes to the initial filing deadlines under the Corporate Transparency Act: The initial filing date for entities in existence before January 1, 2024 would be pushed back to January 1, 2026, two years after the effective date of the final rule for reporting. This is one year later than under FinCEN's current final rule. The initial filing date for entities formed during 2024 would be 90 days after the entity’s formation. This is the same as under FinCEN's current final rule. The initial filing date for entities formed after 2024 would be 90 days after the entity’s formation. This is 60 days later than would have been required under FinCEN's current final rule. [31 USC §5336(b)(1)(B) and (C) as revised]." I really hope this bill gets signed into law

I use ATX1040 package to do about 10 returns. Half were mine or close family that were not billed but the other 5 more than paid for the software (1k).

Oh, that changes my answer. per: https://www.irs.gov/charities-non-profits/churches-integrated-auxiliaries-and-conventions-or-associations-of-churches "Churches (including integrated auxiliaries and conventions or associations of churches) that meet the requirements of section 501(c)(3) of the Internal Revenue Code are automatically considered tax exempt and are not required to apply for and obtain recognition of exempt status from the IRS." So now what is the next step? If this was my local parish, I would furnish the above information to the investment group. If that did not work, I would ask the CFO of our Diocese for help in resolving the matter.