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The Internal Revenue Service is demanding a whopping 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.
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.
The Mercer Family Foundation, run by Rebekah Mercer, also has donated millions of dollars to conservative nonprofit groups that have called for the firing of IRS Commissioner John Koskinen, an Obama administration holdover whose five-year term expires in November.
IRS leader Koskinen has said publicly that he intends to finish his term.
On his watch, the agency hasn’t been cowed by the Mercers.
The IRS recently released a little-noticed advisory stating that its top targets in future business audits will include so-called “basket options,” the instruments that Renaissance and some other hedge funds have used to convert short-term capital gains to long-term profits that have lower tax rates.
But Renaissance, with assets estimated at billion on Dec.31, 2016, has shown no signs of buckling to the IRS’s demands.Nor has there been a hint as to whether Trump, a real estate developer who has refused to make his tax returns public, will intercede.The White House declined to respond to questions about the matter.Richard Painter, chief White House ethics adviser under President George W.Bush, said the optics surrounding the Mercers’ political connections and the IRS case “are terrible.” “The guy’s got a big case in front of the IRS,” said Painter, now a University of Minnesota law professor who is also vice chairman of Citizens for Responsibility and Ethics in Washington.Tags: Adult Dating, affair dating, sex dating