Politics

Government Report: Joe Biden Likely Cheated on Taxes, Owes $500,000

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.

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:

take our poll - story continues below

Should Congress Remove Biden from Office?

  • Should Congress Remove Biden from Office?  

  • This field is for validation purposes and should be left unchanged.
Completing this poll grants you access to Conservative Firing Line updates free of charge. You may opt out at anytime. You also agree to this site's Privacy Policy and Terms of Use.

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

Related:

Turn your back on Big Tech oligarchs and join the New Resistance NOW!  Facebook, Google, and other members of the Silicon Valley Axis of Evil are now doing everything they can to deliberately silence conservative content online, so please be sure to check out our MeWe page here, check us out at ProAmerica Only and follow us at Parler, Social Cross and Gab.  You can also follow us on Twitter at @co_firing_line, and at the new social media site set up by members of Team Trump, GETTR.

While you’re at it, be sure to check out our friends at Whatfinger News, the Internet’s conservative front-page founded by ex-military!And be sure to check out our friends at Trending Views:Trending Views

Warner Todd Huston

Warner Todd Huston has been writing editorials and news since 2001 but started his writing career penning articles about U.S. history back in the early 1990s. Huston has appeared on Fox News, Fox Business Network, CNN, and several local Chicago News programs to discuss the issues of the day. Additionally, he is a regular guest on radio programs from coast to coast. Huston has also been a Breitbart News contributor since 2009. Warner works out of the Chicago area, a place he calls a "target rich environment" for political news.

Related Articles

Our Privacy Policy has been updated to support the latest regulations.Click to learn more.×