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

May 3, 2015

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.

8 Comments - what are your thoughts?

  • Danny says:

    George Soros, Al Sharpton, Bernie Madeoff and others of their kind have all made there money while advocating that we the rest of us should pay our fare share is like the pastor of the local church preaching about the evil of pornography and goes home, siting on the toilet and reading and lusting over an issue of playboy magazine.

  • KentS says:

    Don’t hold it against me if I won’t hold my breath for the repayment. I think there is a much better, cheaper way to deal with Soros…

  • rafael says:

    burn him crisp ; take him to the cleaner ; leave him sitting on the sidewalk with nothing .

  • guy says:

    Since he made $6.6 billion, by deferring the taxes owed. He probably, will not mind writing the check. I can not blame him, for taking advantage of, the tax laws of the time. Of course, libs all say we need to pay more in taxes, as long as it is someone else’s money.

  • debi says:

    You know IF he ever has to pay they will probably negotiate it down to less than one million. Seven Billion dollars owed, wish in all of the 40 plus years I have worked the total made before taxes could be 1 million. Those of us who make very little are quick to pay any taxes owed!

  • If Soros and Sharpton don’t need to pay taxes, why should anyone else? Anyone singled out for punishment by the I,R.S. can use the argument that they are, in fact, being singled out. How would that play out in court, especially if rich or influential democrats were allowed to avoid attention from the I.R.S.?

  • Deborah says:

    Make him pay it all back! They would if it were us. Maybe then he wont be so quick to use his money for his groups like ” occupy” who’s only cause is to insight division, strife, and hatred.

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