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Monday, November 27, 2017

Soros Sheltering $18 Billion That IRS Can't Touch

Soros himself has repeatedly said the wealthy in the United States should pay more taxes

Billionaire investor George Soros has funneled a sum bigger than the economies of Jamaica or Albania to a private charity he controls. The money can never be taxed by the US Internal Revenue Service.

The founder of the $26 billion Soros Fund Management, transferred $18 billion to his Open Society Foundations over the past several years.

As the Wall Street Journal specifies, when a person donates untaxed, appreciated assets to a private foundation, he may also hold up to 20 percent of its market value on his personal tax return, carrying forward this deduction for five years.

When Congress eliminated the tax break in 2008, investors were given until December 31, 2017, to bring the cash home and pay the accumulated taxes. After Soros used the tax maneuver, he owes nothing to the IRS.



Anonymous said...

Why is this being treated as new news? Love him or hate him the guy is not stupid when it comes to currency manipulation. He is on another level when it comes to money so why would evading the IRS be a surprise or even news worthy?
Otherwise he is as worthless as the day is long.

Anonymous said...

I have been stating he should be expelled from the US. Revoke his citizenship. Confiscate all his US assets and sell to go towards national debt. He is not paying his way so nothing lost. European countries have done this. He is an anarchist attempting to overthrow the US democracy government. That will be the smartest thing Pres Trump can do with draining the swamp.

Anonymous said...

He is certainly a two faced creep!! He shames the Hungarian people.

Anonymous said...

I believe he has terrible motives however learn from him. He works the broken system like many others. If you had any idea how offshore accounts and tax evasion works you might want to take another look at the tax plan being proposed because it isn't about you. It isn't about what you think are your wealthy friends, its about the people on a level you'll never comprehend when it comes to finances.