The Trump administration is reportedly preparing a tax audit of George Soros's foundation. The New York Post says the organization could lose its tax benefits and face fines.
The Trump administration is preparing a tax audit of George Soros's foundation, the New York Post reports. The review could strip the organization of its tax-exempt status and result in substantial fines, according to the newspaper.
A year ago, the U.S. Department of Justice announced a large-scale investigation into the same fund. That announcement followed then-President Donald Trump's public call to hold Soros and his son accountable for allegedly supporting disorder during protest demonstrations across the United States.
The New York Post did not specify when the audit might begin, who would conduct it, or the precise penalties under consideration. Losing tax-exempt status would curtail the foundation's ability to collect tax-deductible donations in the United States and operate as a nonprofit under U.S. law.
Soros-backed groups have long been a focus of conservative criticism in American politics, and the reported audit fits the administration's confrontational stance toward the billionaire investor and his philanthropic network.
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