Biden, accountant hit with IRS whistleblower claim that prez owes at least $127K
April 18, 2022
"President Biden and his accountant are facing new IRS whistleblower complaints alleging that Biden owes at least $127,000 in back taxes.
The complaints were filed by Chris Jacobs, a former Republican aide on Capitol Hill, to coincide with Monday’s federal tax filing deadline.
“Federal agencies must implement laws on a non-partisan basis,” Jacobs told The Post. “The fact that the IRS did not audit Joe Biden’s 2017 through 2019 returns, despite several articles publicly raising questions about the propriety of his actions, raises questions about how the IRS administers our nation’s tax laws, and whether political considerations played a role in the IRS’ decisions.”
Biden and his wife Jill avoided paying Medicare taxes on book income and speaking fees in 2017 and 2018 by routing $13.3 million through “S corporations” and counting a small amount as eligible for the federal healthcare tax."
"The strategy is commonly used by wealthy people to dodge the 3.8% Medicare levy on large amounts of income and experts say the IRS lacks the resources to aggressively pursue cases of underpayment.
Republicans are vowing to investigate Biden’s tax situation next year if they retake Congress and regularly accuse him of hypocrisy for urging the wealthy to pay their “fair share.” Biden last year proposed legislation to close the tax loophole and boost IRS enforcement.
Democrats say that Biden used a common tax strategy and there’s no directly analogous case that indicates he was wrong in his calculations."
"TheIRS offers whistleblowers rewards of between 15% and 30% of what it recovers, but Jacobs wrote in his complaint that he “would gladly forego any potential remuneration.”
Sauce/moar: https://nypost.com/2022/04/18/biden-accountant-hit-with-irs-whistleblower-complaints-on-tax-day/