A nonprofit religious organization, which claimed “church” status during an Internal Revenue Service inquiry about possible excess benefit transactions, is unable to stop IRS subpoenas for financial records held by eight banks. A federal District Court in South Carolina has rejected the group’s efforts to prevent the banks from providing the information. Bible Study Time (“BST”), a nonprofit formed in 1972 and run by a husband and wife team providing religious radio programming, came under questioning and audits about its Form 990 tax returns which did not claim church status. The IRS expressed concern about the wife’s compensation as a pastor, possible business income from the husband’s...