George Soros reportedly could face up to $7B tax bill, after delaying payment for years

George_SorosFox News: George Soros may soon face a monumental tax bill — of nearly $7 billion — after years of playing hard-to-get with the IRS. 

Despite Soros having advocated for higher taxes on the wealthy, the liberal billionaire reportedly has delayed paying his own for years thanks to a loophole in U.S. law.

That loophole was closed by Congress in 2008. But before that, Bloomberg reports, Soros used it to defer taxes on client fees. Instead, he reinvested them in his own fund, and they grew tax-free. 

Bloomberg, citing Irish regulatory filings, reported that Soros has made $13.3 billion in this way. Factoring in the various tax rates that would apply, one tax expert estimated this would leave Soros with a roughly $6.7 billion bill.

While Soros did not comment on the estimate, Bloomberg reported that Soros deferred his taxes for so many years by reinvesting client fees. While he technically was able to do this for U.S.-based funds, offshore funds were apparently preferred because otherwise clients would face negative tax implications. Congress closed that loophole in 2008, ordering fund managers to pay up by 2017.

According to Bloomberg, Soros moved assets shortly before the change to Ireland, seen as a possible shelter from the law. But tax attorneys told Bloomberg they don’t know of a way for money managers to avoid the bill in 2017.

al-sharpton-obama-7-16-08

Don’t worry George…like Obama’s buddy Sharpton, I’m sure the IRS won’t be too worried about collecting those taxes right away.

DCG

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18 responses to “George Soros reportedly could face up to $7B tax bill, after delaying payment for years

  1. Pingback: George Soros reportedly could face up to $7B tax bill, after delaying payment for years | O LADO ESCURO DA LUA

  2. You can’t get 4.5 million out of Sharpton. How do you expect to get billions out of Soros?

    Liked by 1 person

  3. Both Soros and Sharpton should be in jail.

    CORRECTION: Soros, Sharpton, and their enabler Barack Obama should all be in jail.

    Liked by 1 person

    • Northerngirl

      I agree Dr. Eowyn, all three should be jailed for stealing from the American taxpayers. I think we both know that nothing will happen to any of these evil men. In this upside down world they’ll go free while the IRS makes life hell for a person who owes them $1000.00 and they will be relentless in their endeavor to recover that 1000.00 from them. It’s all about WHO you are in this corrupt government.

      Liked by 1 person

    • ‘Should be’ in jail = ‘Won’t be’ in jail, in this case… 😦

      Like

  4. But he sure didn’t have a problem spending millions around the country for inciting at Ferguson and Baltimore. Another reason to go directly to jail, do not pass Go, do not collect $200.
    Any one want to make a bet, Sharpton’s bill has been written off for services rendered?
    Jail is too good for these miscreants.

    Like

    • Let’s not forget all the money he,Soetorobama,Bloomberg,Holder,Reid,et. al. are spending to get our Second Amendment made irrelevant. I can see why-If YOU ripped off that many people,broke that many laws,did THAT MUCH to bring ruin to America,would YOU want 300 Million pissed off Americans out there WITH GUNS?

      Like

  5. David Cameron

    Soros, the scumbag who has actually stated that he considers himself to be like a god should be charged with treason for intentionally undermining the U.S. Death by a thousand cuts seems like a fair penalty.

    Like

  6. irs has gone after conservatives like rabid dogs and let these scumbags and their ilk skate free. What amount does a progressive/commie need to owe before they are properly pursued for lack of payment?..I guess only conservatives are guilty for not paying taxes.

    Like

  7. Soros’ plan was to collapse our government before the due date. He’s pretty much on schedule.

    Like

  8. George Soros, Nazi collaborator though he remains, will NEVER pay this tax bill, even if he orders his secretary to write the check! Here’s why: Soros is a hedge fund manager and arbitrager. His specialty is debasing currencies, which he profits handsomely from. So whatever check he ever does write will have originated from the sweat and labor of other people!
    “Only the little people pay taxes.”
    Yeah? LET’S DESTROY THESE MONSTERS AND COME UP WITH AN HONEST SYSTEM.

    Like

    • True, Soros is persona nongrata in England as well as a few other countries for his destructive agenda. It can only lead us to believe what his intentions are for here.

      Like

  9. Son of the Rabbit People

    He should be prosecuted as a (real) war criminal.If he had a 9-5 job somewhere they would have.

    Like

  10. traildustfotm

    That skunk will find some willing palms to grease, and slide right out from under this thing. 😦

    Like

  11. Modern America is being run by crooks. We fought wars to get rid of the crooks running other countries!

    Like

  12. Pingback: 206 U.S. organizations funded by George Soros | Starry News - Paradise Post From Taiwan

  13. Pingback: List Of 206 Organizations Funded By George Soros That Are Operating In The US | conservativepolitics1

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