George Soros spent decades bankrolling the far-left nonprofits flooding America with illegal aliens.
The man who managed his money for years just became Trump's Treasury Secretary.
Soros is about to find out what that relationship is actually worth.
IRS Audit Could Cost Open Society Foundations 163 Million Dollars in Back Taxes
Treasury Secretary Scott Bessent knows George Soros better than almost anyone alive.
Bessent spent years as Soros's chief investment officer at Soros Fund Management – managing the billionaire's money and executing his most aggressive global currency bets. When Bessent left in 2015, Soros bankrolled his new hedge fund with $2 billion.
Now Bessent sits at the head of the Treasury Department, and he just put Soros's nonprofit empire on the IRS hit list.
Treasury officials are finalizing a sweeping audit of far-left organizations deemed to be abusing Uncle Sam's tax code, with Open Society Foundations, the Southern Poverty Law Center, and the Council on American-Islamic Relations at the top of the list, according to three sources briefed on the internal deliberations. Treasury is positioned to strip these groups of their 501(c)(3) status and force massive back-tax payments.
Open Society Foundations alone would owe an estimated $163.6 million in federal corporate taxes if that status is revoked.
The crackdown draws authority from a 2025 executive order Trump signed targeting nonprofits operating with a "substantial illegal purpose" – covering organizations tied to political violence, radical ideology, or extremism.
"Treasury is expanding its efforts to identify organizations that abuse charitable and non-profit structures as vehicles for illicit finance," Bessent said at a press conference last month.
Open Society Foundations – now run by George's 40-year-old son Alexander – bankrolls Black Lives Matter, the US Campaign for Palestinian Rights, and United We Dream Action, a sanctuary group whose stated mission is keeping illegal aliens from being deported.
CAIR faces a different category of scrutiny. Federal prosecutors named the organization as an unindicted co-conspirator in the 2007 Holy Land Foundation terror-financing trial.
The House Ways and Means Committee separately referred CAIR-California to the IRS for investigation in January 2026, citing alleged systematic misuse of donor funds and material support for illegal activity.
The SPLC is reeling from its own federal criminal exposure. Prosecutors indicted the organization in April on fraud charges, alleging it funneled more than $3 million in donor money to informants inside hate groups – including one operative paid more than $270,000 who helped organize the 2017 Charlottesville rally.
In August, former SPLC intelligence director Heidi Beirich was charged with wire fraud, bank fraud, and money laundering for opening fictitious bank accounts to route funds to informants, including one with whom she had a romantic relationship.
The group spent twenty years labeling conservative churches and family organizations as dangerous extremists. Federal prosecutors spent 2026 proving the SPLC had its own extremism problem.
Bessent Is Racing to Strip Tax-Exempt Status From SPLC and CAIR Before the Midterms
Treasury sources told the New York Post there is "a lot of internal pressure" to complete a major portion of the crackdown before November – and that some IRS officials have been moving too slowly.
"That is expected to change very soon," one source said.
Revoking a nonprofit's federal tax exemption doesn't happen overnight. The IRS must audit each organization individually, survive administrative appeals, and outlast whatever courthouse fights the lawyers can manufacture – a multi-year gauntlet.
The administration is not waiting by accident. Democrats could reclaim Congress in November, and with it the power to bury this effort.
The Left's legal operation is already firing back. The far-left group Protect Democracy sued Treasury and the IRS earlier this year, claiming the administration is illegally weaponizing the tax code against political opponents.
They used that same argument to defend the SPLC – right up until federal prosecutors proved the SPLC was funding the Charlottesville rally.
One Treasury source summed it up: "like a dog with a bone."
Soros, the SPLC, and CAIR built their empires on the claim that they were the good guys – the ones protecting democracy from conservatives. The federal government spent four months dismantling that story.
The IRS is coming. And the man leading the charge used to cash George Soros's paychecks.
Sources:
- James Franey, "Trump admin set to target George Soros nonprofit, Southern Poverty Law Center and CAIR in major tax crackdown," New York Post, August 27, 2026.
- Bob Unruh, "Indicted and arrested: SPLC director of intelligence and CFO who ran secret payments to white supremacists," WND, August 12, 2026.
- Bob Unruh, "'Crackdown': Trump team targets leftist orgs over their tax-exempt status," WND, August 27, 2026.
- Dmitri Bolt, "Scott Bessent Is Coming for Soros, CAIR, the SPLC, and the Left's Tax-Exempt Empire," Townhall, August 28, 2026.
