It is reported that Joe Biden won’t be held responsible for evading taxes, in news that is sure to surprise no one. 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 New York Post received the news and saw a copy.
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. Details are provided about the $13 million Joe Biden and his spouse spent on taxes after the Obama administration ended. 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.
The Bidens took all that money they “made” and routed it through S corps in order to skip out on paying some Medicare taxes. The “unexplained income” that measured into the millions was claimed on their taxes but not on their financial disclosures. That’s why we don’t know the origins of it. The dots are connecting, though, given what we’ve learned about the mixing of finances between the elder Bidens and their degenerate son.
But while the IRS will target conservative non-profits and audit Donald Trump every year, they apparently just don’t have the will to look into Biden’s screwed-up finances. I’m sure that’s just a coincidence and not at all a politicized decision, right?
Regardless, even if we assume that the tax schemes the Bidens perpetrated were legal, there’s no doubt they are massive hypocrites. Biden has consistently proclaimed that the rich must “pay their fair share,” targeting highly successful figures like Elon Musk. He actually used this line during his State of the Union speech.
Apparently, paying one’s “fair share” doesn’t apply to Democrat presidents, though. If you’re going to avoid taxes by using loopholes, make sure that your tax bill is large. Bidens in this particular case were so anxious about only having to pay some (relatively speaking) Medicare taxes, they diverted millions of dollars just to do away with them. Talk about cheap.
It’s also worth noting that the Bidens give almost nothing to charity. These people want your money, but they will go to great lengths to avoid taxes so that you can pay the exact things they support. They are the hypocrites at their highest.