Via TTN:
Republican lawmakers allege that a non-partisan report shows that President Joe Biden might owe the IRS up to $500,000 in back taxes.
“Joe Biden wants to raise taxes by $2.1 trillion while claiming the rich need to pay their ‘fair share.’ But in 2017, multi-millionaire Joe Biden skirted his payroll taxes — the very taxes that fund Medicare and Obamacare,” said chairman of the conservative Republican Study Committee, Indiana Rep. Jim Banks.
Biden is pushing for an enormous $3.5 trillion spending bill that will target high-earning Americans so that they “pay their fair share.” But Banks said Biden hasn’t been paying his.
“According to the criteria CRS provided to my office, he owes the IRS and the American people hundreds of thousands of dollars in back taxes,” Banks said. “Every American should know about Joe Biden’s tax hypocrisy.”
Banks detailed that Biden dodged paying Medicare taxes on speaking fees and book sales from 2017 to 2018, by improper use of “S Corporations.” He alleges that the President and First Lady counted just under $800,000 of more than $13 million earned as salary using the tactic.
Ironically, the massive legislation would close the loophole which Biden used to avoid paying 3.8% self-employment tax. The report doesn’t name Biden but indicates he would owe taxes under current rules by analyzing S Corps that the IRS won judgments against from improperly exploiting the same loophole.
“Courts have agreed with the IRS that shareholder-employees are subject to employment taxes when shareholders take distributions, dividends, or other forms of compensation in lieu of reasonable compensation,” the report details.
The document did pointedly note that despite presidential tax returns automatically being subject to audits during their term as commander-in-chief, Biden’s S corporations have been inactive this year, which means the IRS won’t automatically review them.
wpDiscuz
Go figure. what a con artist or should I say puppet.
Please don’t underestimate this old fox. He’s the puppet master, not the puppet.
Make him pay his fair share, i have to, he is not special and in my opinion not even legal.
So President Surrender Monkey aka Joe Biden owes back taxes but is scolding American Citizens to “pay their fair share”! Goodness, that sounds hypocritical and downright dishonest!
Not news, most wealthy dumercrats pay no taxes anyway.
Why do I have to pay taxes when the POS does not pay his?
I bet Joe has not paid a cent in the money his son has gave him! He should pay it back with the $400k a year salary until it is paid! In my 80+ years this is the first time a sitting President has owed do much!
WHERE THE HELL IS THIS ” DECORATED I R S ” FOR NAILING SCHEMING RATS LIKE THE BIDENS AND CLINTONS???
They will be nowhere to be found. Does anybody here think so? If there are “any questions”, they will all remain confidential.
Slick move, speaking engagement fees. Set up S Corp. Avoid social security tax of 12.4% on 1st $ 142,800. Avoid medicare tax of 2.9% on unlimited income.
For the average Joe, this should be self employment or Misc. , Schedule C income, subject to the taxes. But this is no average Joe.
My guess, he’ll get a pass from the IRS. Either way, we will never know about it.
Just like the FBI investigating Hunter Biden. Nada.
Yes, they should harrass this clown the way President Trump was investigated, interrogated, trampled on and smeared ad nauseum for 5 years over his taxes, meanwhile President Trump takes no salary and pays more taxes than any other Billionaire Yes now go for this clown and many others
CORRUPT DOESN’T COVER WHAT BIDEN IS!
The deep state that run this country won’t make he
him pay!!!
Make him show his tax reports to the IS Citizens like demanded. That Trump did. I would like to make a bet that Bide, Clinten, & Obama would not pass the test. They all have too much dirt on their necks, along with all the. Terrible things that they have put the American people through.
Biden. & Harris both need to be impeached for their lack of not caring. And abusing their power if office tohumilitate the US. In the whole world, & the lives that they took through not caring & nrglence of their org they when they took office
.ca. They are a disgrace to ALL Americans & the world.
What about all the money his brat funneled to him? Did they figure in that money? And what does his sleaze of a son owe? That whole family is made up of crooks who are robbing the American people to finance their lifestyle.
Of course the same applies to Pelosi, Feinstein, and so many other Democrap leaders. How many mansions have the Obamas bought so far on a presidential salary?
How about the designer of AOC’s ” tax the rich” gown? She hasn’t paid payroll taxes for 5 years.
Rules and laws for thee, but not for the crooked communist democrat cult party members!
Republican lawmakers allege that a non-partisan report shows that President Joe Biden might owe the IRS up to $500,000 in back taxes.
“Joe Biden wants to raise taxes by $2.1 trillion while claiming the rich need to pay their ‘fair share.’ But in 2017, multi-millionaire Joe Biden skirted his payroll taxes — the very taxes that fund Medicare and Obamacare,” said chairman of the conservative Republican Study Committee, Indiana Rep. Jim Banks. JOE BIDEN IS NOT ONLY COMPROMISED BECAUSE THE MONEY HE RECEIVED FROM HIS SON’S DEALINGS WITH FOREIGN GOVERNMENTS, JOE BIDEN OWES BACKTAXES. AND HE HAS THE NERVE TO TALK ABOUT “TAXING THE RICH” WHILE HE HIMSELF IS DELINQUENT AND OWES BACK TAXES.
Rules are for thee, certainly not for me.
Not a problem for Joe, he will just send out Hunter to extort it from some foreign company.
You little DemonCrat stogies do not need to worry.
Biden is above the law.
He will probably get back 500,000$ and an appology.
he should pay his taxes foe gods sake hes the president, and he is worse than al sharpton
He is a crook just like drug dealing son.
Like son, Like father!
When a person appoints himself judge, jury, & executioner concerning border patrol agents trying to do their job to fix a problem he created, why should he he bothered about tax laws?
of course the IRS will not review a dem tax return much less the pretender in cheif’s tax returns. Now all you have to do is tell the IRS you re a dem and thaat they can’t look at your taxes because they didn’t look at biden’s. I am sure you will win using those straggles… funny huh
Interesting, he recently made a statement that if the public didn’t pay their taxes he would be sure all their assets were seized.
Hmm, old poopy pants didn’t “pay his fair share”!