Some of the biggest current tax battles are being waged by some of the most generous supporters of 2016 candidates. They include the families of the hedge fund investors Robert Mercer, who gives to Republicans, and James Simons, who gives to Democrats; as well as the options trader Jeffrey Yass, a libertarian-leaning donor to Republicans.
Mr. Yass’s firm is litigating what the agency deemed to be tens of millions of dollars in underpaid taxes. Renaissance Technologies, the hedge fund Mr. Simons founded and which Mr. Mercer helps run, is currently under review by the I.R.S. over a loophole that saved their fund an estimated $6.8 billion in taxes over roughly a decade, according to a Senate investigation. Some of these same families have also contributed hundreds of thousands of dollars to conservative groups that have attacked virtually any effort to raises taxes on the wealthy.
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So expansive was the resulting loophole that Mr. Soros’s $24.5 billion hedge fund took advantage of it, converting to a family office after returning capital to its remaining outside investors. The hedge fund manager Stanley Druckenmiller, a former business partner of Mr. Soros, took the same step.
The Soros family, which generally supports Democrats, has committed at least $1 million to the 2016 presidential campaign;
A person with knowledge of the group’s fund-raising said the organization had also secured large donations or commitments from a number of wealthy individuals, including James Simons, a New York hedge fund founder, and Danny Abraham, a Florida entrepreneur
http://www.nytimes.com/politics/first-draft/2016/01/29/super-pac-backing-hillary-clinton-says-it-is-raising-more-than-it-did-for-obama/
http://www.nytimes.com/2015/12/30/business/economy/for-the-wealthiest-private-tax-system-saves-them-billions.html
the various maneuvers discussed in these articles are not fraud but the result of how billionaires, hedge funds, banksters can pressure politicians and influence policy
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