Personal Finance & Money Asked on January 23, 2021
There are a few examples displaying how easy it is to set up a church (John Oliver) that is exempt from taxation. Would it be beneficial and/or possible to set up one’s own church to deposit all one’s funds into and have the church "take care of one’s necessities"?
No. If the IRS believes that your church is being run for your private gain, it'll lose its tax-exempt status. And then you'll be liable for all the back taxes you didn't pay, plus fines and interest. For example, there was a very long-running set of court cases on the tax exempt status of Scientology. If you tried to create a church that acted as a personal slush fund, the court battle would last much less time and you'd come out much worse for it.
Answered by Justin Cave on January 23, 2021
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