KOMMONSENTSJANE – George Soros reportedly could face up to $7B tax bill, after delaying payment for years. Fellowship of the Minds.

Reblogged on kommonsentsjane/blogkommonsents.

What’s up – why don’t these tax cheats have to pay their taxes or go to jail?
Or did Obama give them a “GET OUT OF JAIL CARD?”

We could use that dough for the border wall.

kommonsentsjane

Fellowship of the Minds

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…

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About kommonsentsjane

Enjoys sports and all kinds of music, especially dance music. Playing the keyboard and piano are favorites. Family and friends are very important.
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