Is it true that if you donate all your income to the government as a us citizen youll get tax cuts for the rest of your life or something? I heard that during i think Vietnam or ww2 people used to do this - theres a name for it - and after the war theyd be like tax free forever.
2007-10-22 06:32:21 · 3 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ United States
The name for it that you are grasping for is "Deluded."
2007-10-22 07:08:43 · answer #1 · answered by Anonymous · 0⤊ 0⤋
It is not true that you can transfer your income to the government, or any other entity, and then get tax cuts for the rest of your life.
I don't know the name you are thinking of, it may be Pure Trust, Liberty Trust, Patriot Trust, or something like that.
These frauds have been around for a long time and resurface regularly with superficial changes.
2007-10-22 16:19:19 · answer #2 · answered by ninasgramma 7 · 1⤊ 0⤋
Uh, no, what you heard isn't true. You can always donate money to the government, but that won't affect your taxes.
2007-10-22 13:45:23 · answer #3 · answered by Judy 7 · 1⤊ 0⤋