Joe Biden to Skate on Possible Tax Evasion After His Extreme Hypocrisy Is Revealed
By Bonchie | May 07, 2022 11:30 AM ET
In news that will surprise absolutely no one, it is being reported that Joe Biden is not going to be held accountable for possibly evading taxes. That comes after the IRS rejected a whistleblower complaint alleging the president owes at least $127,000 in back taxes, with others suggesting it’s as much as $500,000.
The news comes per The New York Post, which saw a copy of the denial letter.
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…
…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.
“It looks like the question of whether the president underpaid his Medicare taxes will never be aired,” Willens told The Post.
The dispute concerns more than $13 million that Joe and Jill Biden routed through S corporations in 2017 and 2018 to avoid paying a 3.8 percent Medicare tax on most of the haul by declaring a small part of it as “salary.” Many wealthy people use S corporations to lower their tax bills and the IRS pursues relatively few cases of lowballing the amount of income that counts as taxable.
The issues over Biden’s taxes are actually long-standing, with RedState reporting on the issue last year. The details concern the over $13 million that Joe Biden and his wife made following the end of the Obama administration. Those are the same years that Biden ended up with $5.2 million in “unexplained income,” with other evidence pointing to his corrupt, possibly criminal son, Hunter Biden, dumping money in the family coffers during that time period.
more
https://redstate.com/bonchie/2022/05/07/joe-biden-to-skate-on-possible-tax-evasion-after-his-extreme-hypocrisy-is-revealed-n561373
