Why Did The IRS Let Biden Off The Hook For His Sketchy Tax Filings? Republicans Should Investigate

The Internal Revenue Service (IRS), apparently, doesn’t take my advice. As Congress was getting ready to launch a spending spree last summer that included funding for Nearly 87,000 IRS employeesI Noted If Democrats wanted to track down wealthy tax cheats they should ask that the tax agency be established Check on the current occupant The White House will allow him to study his own Tax history that is not so good.

Now, the White House claims that the IRS reviewed President Biden’s tax returns and found no red flags. An analyst at a liberal think-tank was compelled to call for Congress to investigate the apparent abdication by the IRS of its duties in relation to Biden’s returns. The question is whether Republicans will actually act on it.

White House Claims

A brief history: In 2017, Biden was married to Jill. A scheme was devised To funnel their majority of their speech and book income through two Scorporations using a loophole created by Biden’s administration Now, wants to eliminate. Taking most of that income as corporate profits rather than wages allowed the Bidens to avoid paying 3.8 percent in payroll taxes — the first 2.9 percent assessed by Medicare and a 0.9 percent levy imposed by Obamacare — on the corporate profits. The strategy resulted in more than $500,000 tax savings.

However, Numerous tax experts Questions have been raised about whether Biden abused this loophole. The question is whether Biden paid himself such a low salary in 2017 and 2018 — because he wanted to avoid paying Medicare and Obamacare taxes on most of his income — as to violate IRS guidelines for “reasonable compensation.” I filed a Whistleblower complaint The IRS received a complaint about this matter in February. The service was terminated Within two weeks of it being received.

Answering recent questions about whether Biden will be re-elected, “cheated” The White House released information about his taxes. new statement To fact-checking organisations about this issue, claiming that the IRS has examined and found no fault in Biden’s returns. 

Two ironies are apparent in this development. First, the White House has not publicly released any evidence, via some type of communication from the IRS, to substantiate its claims — yet the “fact-checking” The White House statements were taken at face value by organizations, and they didn’t check with the White House. “facts.” A second possibility is that anyone who contradicts the White House’s statements may be subject to criminal sanctions for disclosing tax returns information. This is a great way for the White House control information flow and allows it to remain unchallenged.

IRS Didn’t Do Enough Investigations

In essence, the White House claims that the Bidens speech and book income represent royalties from licensing of their works to which the 3.8 per cent Medicare tax does not apply. Furthermore, the IRS has endorsed the Bidens’ interpretation of tax law. The White House statement does not distinguish between the two.