Why Did The IRS Let Biden Off The Hook For His Sketchy Tax Filings? Republicans Should Investigate
By: Christopher Jacobs
March 01, 2023 Congressional Republicans need to start asking why politicians with such questionable tax records get off scot-free.
Apparently, the Internal Revenue Service (IRS) doesn’t listen to my advice. Last summer, as Congress prepared to ram through a spending spree that included funding for nearly 87,000 IRS employees, I noted that if Democrats were interested in tracking down wealthy tax cheats, they should instead demand that the tax agency audit the current occupant of the White House to study his own dodgy tax history.
Now come claims from the White House that the IRS examined President Biden’s taxes yet raised no red flags. That apparent development was enough to prompt an analyst at a liberal think tank to say Congress should investigate what he views as the IRS’s abdication of its duties regarding Biden’s returns. But the question remains whether Republicans will get off their proverbial tails and actually do something about it.
White House Claims
To give a brief background, in 2017, Biden and his wife, Jill, devised a scheme to funnel most of their book and speech income through two S-corporations, using a loophole that Biden’s own administration now wants to eliminate. Taking most of that income as corporate profits rather than wages allowed the Bidens to avoid paying 3.8 percent in payroll taxes — the first 2.9 percent assessed by Medicare and a 0.9 percent levy imposed by Obamacare — on the corporate profits. Overall, the strategy netted them over $500,000 in tax savings.
However, numerous tax experts have raised questions about whether Biden not only used this loophole but abused it. The question is whether Biden paid himself such a low salary in 2017 and 2018 — because he wanted to avoid paying Medicare and Obamacare taxes on most of his income — as to violate IRS guidelines for “reasonable compensation.” I filed a whistleblower complaint with the IRS about this issue last February, a complaint that the service dismissed within weeks of receiving it.
more
https://thefederalist.com/2023/03/01/why-did-the-irs-let-biden-off-the-hook-for-his-sketchy-tax-filings-republicans-should-investigate/
