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Weatherhead

Weatherhead's Timothy Fogarty comments on Pope Leo XIV's potential tax payments

MEDIA | May 15, 2025
STORY BY: EDITORIAL STAFF


Fortune MagazineTimothy Fogarty, the Andrew D. Braden Professor in Accounting and Auditing at Weatherhead School of Management, said that as a U.S. citizen, Pope Leo XIV may need to file a tax return and report Vatican-related accounts, with potential liability in the six figures—unless he renounces citizenship or receives an exemption.