GOP Mega-Donor Robert Mercer Part of Massive $7 Billion Tax Settlement With IRS
A new settlement with the Internal Revenue Service will require executives at Renaissance Technologies to pay “approximately $7 billion in back taxes, interest and penalties,” according to The Wall Street Journal. The settlement, which reportedly may be the largest ever of its kind, includes an additional $670 million contribution from James Simons, the billionaire founder of the quantitative hedge fund. Robert Mercer, a major backer of Donald Trump, is also a party in the deal. “We engaged for several years in the IRS Appeals process,” Renaissance’s CEO Peter Brown wrote in a letter obtained by the Journal. “Renaissance’s board eventually concluded that the interests of our investors from the relevant period would be best served by agreeing to this resolution.”
Read it at The Wall Street Journal
http://www.thedailybeast.com/gop-mega-donor-robert-mercer-part-of-massive-dollar7-billion-tax-settlement-with-irs?via=newsletter&source=DDMorning
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