The US Department of the Treasury is preparing extensive audits of nonprofit organizations suspected of abusing tax breaks. According to three sources cited by the New York Post, billionaire George Soros’s Open Society Foundations could also lose their tax exempt status.

The audits are also expected to target the Southern Poverty Law Center and the Council on American Islamic Relations. The plan is linked to measures introduced by President Donald Trump in 2025 targeting organizations accused of engaging in unlawful activities. The consequences could include fines, back taxes or the complete revocation of tax exempt status.

According to the newspaper’s analysis, if taxed at a rate of 21% for 2024, these three entities would pay approximately $165m. Up to $163.6m of that amount would come from Soros’s network.

The initiative is already facing a lawsuit from Protect Democracy, which accuses the administration of targeting nonprofit organizations based on their political views and advocacy work. The Open Society Foundations have described any politically motivated revocation of tax exempt status as illegal. The Council on American Islamic Relations rejects claims of links to foreign funding or terrorist groups.

The Department of the Treasury has not commented on the reports. Any revocation of tax exempt status could take years due to audits, appeals and litigation.

(nypost, bak)