Biden likely to avoid IRS audit that could’ve revealed if he made money from Hunter’s deals

[mystery-ak]

 Biden likely to avoid IRS audit that could’ve revealed if he made money from Hunter’s deals
By Steven Nelson   
May 5, 2022 6:52pm

President Biden is likely to avoid an audit that could reveal whether he made money from his son Hunter Biden’s overseas business dealings — because the Internal Revenue Service has rejected a whistleblower complaint that alleged he owes at least $127,000 in taxes, The Post has learned.

The IRS allows people to inform on fellow taxpayers and win a slice of the proceeds — prompting Chris Jacobs, a former Republican staffer on Capitol Hill, to submit complaints against Biden and his accountant, though he said he didn’t want any financial reward.

Jacobs shared with The Post a reply from the IRS titled “denial” that explained that the government didn’t use his information.

Tax law expert Bob Willens, who teaches at Columbia University’s business school, said the rejection means Biden is likely to run out a three-year statute of limitations, meaning Republican claims that Biden owes up to $500,000 in taxes are unlikely to be resolved.

more
https://nypost.com/2022/05/05/joe-biden-to-likely-avoid-irs-audit-that-could-have-revealed-hunter-income/

[Kamaji]

If Biden omitted an entire item of income, and that item was 25% or more of his income, then the statute of limitations is six years, not three years.  Finally, if the item was fraudulently omitted (i.e., there was some attempt to misrepresent or hide the item - something more than just failing to report it), then there is no statute of limitations.

That being said, the IRS will not pursue the matter because he is a high-ranking democrat-party politician.  He is strictly off-limits to the IRS.