Monday, May 1, 2017

Will IRS Ding Top Trump Supporter With $7 Billion Tax Bill?

Robert Mercer and daughter Rebekah 
By Scott Christianson and Greg Gordon

The Internal Revenue Service is demanding a whopping $7 billion or more in back taxes from the world’s most profitable hedge fund, whose boss’s wealth and cyber savvy helped Donald Trump pole-vault into the White House.

Suddenly, the government’s seven-year pursuit of Renaissance Technologies LLC is blanketed in political intrigue, now that the hedge fund’s reclusive, anti-establishment co-chief executive, Robert Mercer, has morphed into a political force who might be owed a big presidential favor.

With Trump in the Oval Office, Mercer and his daughter Rebekah, who has become his public voice, seem armed with political firepower every which way you look – and that’s even though presidential adviser Stephen Bannon, their former senior executive and political strategist, appears to have recently lost influence.

Since the IRS found in 2010 that a complicated banking method used by Renaissance and about 10 other hedge funds was a tax-avoidance scheme, Mercer has gotten increasingly active in politics. According to data from the Center for Responsive Politics, he doled out more than $22 million to outside conservative groups seeking to influence last year’s elections, while advocating the abolition of the IRS and much of the federal government.

Read the rest here.

1 comment:

  1. there is and easy way out of that, eliminate the IRS.