According to a new government report, Joe Biden may have cheated the IRS out of $500,000 in taxes by misusing S Corp tax statues exemptions.
Even as Biden parades about our TV screens proclaiming his jihad against evil rich people who aren’t “paying their fair share,” this report seems to say that Biden is also a tax cheat.
Per the New York Post:
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A House Ways and Means Committee draft of the bill would end the accounting trick apparently exploited by Biden and boost IRS funding for audits — but the new report, drafted by the Congressional Research Service and provided to The Post, suggests Biden owes taxes under current rules, according to the congressman who requested it.
“Joe Biden wants to raise taxes by $2.1 trillion while claiming the rich need to pay their ‘fair share.’ But in 2017, multimillionaire Joe Biden skirted his payroll taxes — the very taxes that fund Medicare and ObamaCare,” said Rep. Jim Banks (R-Ind.), chairman of the conservative Republican Study Committee.
“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.
Banks said the report shows Biden improperly used “S corporations” to avoid paying Medicare tax on speaking fees and book sales in 2017 and 2018.
Biden and his [Not a doctor] wife, Jill, routed $13 million through an S corp and counted less than $800,000 of that bounty as personal salaries.
The CRS report adds that what the Bidens did has been ruled illegal many, many times in court cases going back decades.
Oh, and remember how Joe Biden and his cohorts keep calling him “Middle Class Joe”? How many people in the middle class do you know that have $13 million to funnel through an S corp?
Indeed, how many middle class people even HAVE any S corps?
Follow Warner Todd Huston on Facebook at: facebook.com/Warner.Todd.Huston.
Cross-posted with Flag and Cross
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