dChan
Anonymous ID: 3072d4 May 6, 2022, 12:55 p.m. No.16223130   🗄️.is 🔗kun   >>3135 >>3599 >>3667

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

 

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.

“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 income is believed to be linked to Biden book sales and speaking fees after he left office as vice president. Experts say income that is the direct result of a person’s labor generally should count as subject to the Medicare tax, and ethics experts are calling on Biden to reveal the precise sources amid scrutiny of the president’s links to his son Hunter Biden’s overseas business relationships.

 

Jacobs did not specifically seek information on the first son’s links to his father, but an IRS audit would necessarily require a review of how Biden earned various income streams.

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

Anonymous ID: 3072d4 May 6, 2022, 1:35 p.m. No.16223403   🗄️.is 🔗kun

The lefties never quit or run out of money.

 

–1–

IN THE COURT OF CHANCERY OF THE STATE OF DELAWARE

ORLANDO POLICE PENSION FUND, on

behalf of itself and all other similarly

situated stockholders of TWITTER, INC.,

Plaintiff,

v.

TWITTER, INC., PARAG AGRAWAL,

MIMI ALEMAYEHOU, JACK DORSEY,

EGON DURBAN, MARTHA LANE FOX,

OMID KORDESTANI, FEI-FEI LI,

PATRICK PICHETTE, DAVID

ROSENBLATT, BRET TAYLOR,

ROBERT ZOELLICK, and ELON MUSK

 

–33–

despite the fact that they knew or should have known that Musk became an

“interested stockholder” (as defined in Section 203) prior to the time the Board

agreed to the Proposed Takeover.

  1. By virtue of the Director Defendants’ breaches, Plaintiff and the Class

will suffer harm as alleged herein.

  1. Plaintiff and the Class have no adequate remedy at law.

PRAYER FOR RELIEF

WHEREFORE, Plaintiff demands judgment as follows:

A. Declaring that this action is properly maintainable as a class action;

B. Declaring that Musk is an “interested stockholder” within the meaning

of Section 203 and that the Proposed Takeover may not lawfully close within three

years of the time that Musk became an interested stockholder unless it is approved

by the affirmative vote of 662/3% of Twitter’s voting stock not “owned” by Musk

within the meaning of Section 203;

C. Finding that the Director Defendants breached their fiduciary duties;

D. Awarding Plaintiff the costs and disbursements of this action, including

reasonable attorneys’ fees; and

E. Granting such other and further relief as this Court may deem to be just,

equitable, and proper.

 

behind a paywall

https://cdn.locals.com/documents/47656/47656_5ami68m3odvko6f.pdf