{"id":1443048,"date":"2022-04-18T08:16:17","date_gmt":"2022-04-18T12:16:17","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1443048"},"modified":"2022-04-18T08:16:27","modified_gmt":"2022-04-18T12:16:27","slug":"this-tax-day-biden-should-release-his-full-corporate-taxation-statements","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/this-tax-day-biden-should-release-his-full-corporate-taxation-statements\/","title":{"rendered":"This Tax Day, Biden Should Release His Full, Corporate TAXATION STATEMENTS"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">22<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fthis-tax-day-biden-should-release-his-full-corporate-taxation-statements%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1443048&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/04\/irs-e1650252502303.jpg\" class=\"ff-og-image-inserted\" alt=\"image\" \/><\/div>\n<p>President Joe Biden released his tax returns last Friday, and the White House <a href=\"https:\/\/www.whitehouse.gov\/briefing-room\/disclosures\/2022\/04\/15\/the-president-and-vice-president-release-their-2021-tax-returns\/\">claimed<\/a> \u201cwith this release, the President has shared a total of 24 years of tax returns with the American public, once again demonstrating his commitment to being transparent with the American people about the finances of the commander in chief.\u201d Biden has previously boasted about his <a href=\"https:\/\/twitter.com\/JoeBiden\/status\/1310998525321383944?s=20\">\u201ctransparency\u201d<\/a> in releasing his tax returns.<\/p>\n<p>Except the most revealing parts of his tax returns are not public.<\/p>\n<p>Joe and his wife Jill Biden have released their jointly filed individual tax returns, but not the corporate tax returns containing details on the S-corporations that have been the source of most of their recent income and that they set up <a href=\"https:\/\/joebiden.com\/wp-content\/uploads\/2020\/05\/OGE-Form-278e-signed.pdf\">shortly after<\/a> Joe Biden left his post as vice president, as The Federalist has reported.\u00a0<\/p>\n<p>After he left office, Biden and his wife\u2019s income <a href=\"https:\/\/www.usatoday.com\/story\/news\/factcheck\/2020\/10\/21\/fact-check-biden-amassed-wealth-through-speaking-and-book-profits\/5981003002\/\">increased massively<\/a>, from a\u00a0total of $396,552 in 2016 to $16,603,421 in adjusted gross income between\u00a02017\u00a0and\u00a02019. About $13 million of that flowed through their S-corporations.<\/p>\n<p>George Washington University law professor Jonathan Turley <a href=\"https:\/\/nypost.com\/2022\/04\/06\/legal-experts-call-for-biden-to-release-corporate-tax-returns\/\">told<\/a> The New York Post that while there\u2019s \u201cno evidence of wrongdoing,\u201d questions about the president\u2019s son\u00a0<a href=\"https:\/\/nypost.com\/2022\/04\/06\/gop-demands-experts-who-dismissed-hunter-biden-laptop-fess-up\/\">Hunter Biden\u2019s overseas business deals<\/a>\u00a0have \u201creached the point where the White House needs to err on the side of transparency\u201d and release the corporate returns.<\/p>\n<h2>Where Did the $13 Million Come From?<\/h2>\n<p>\u201cThe Biden campaign explained in a press release [in 2019] that the money in those entities [the S-corporations] came from speaking engagements and book payments connected to Joe\u2019s memoir,\u00a0Promise Me, Dad, and Jill\u2019s memoir,\u00a0Where the Light Enters<em>,\u201d<\/em> <a href=\"https:\/\/www.forbes.com\/sites\/michelatindera\/2020\/10\/22\/how-the-bidens-earned-167-million-after-leaving-the-white-house\/?sh=2f373b21e421\">according<\/a> to Forbes.<\/p>\n<p>USA Today <a href=\"https:\/\/www.usatoday.com\/story\/news\/factcheck\/2020\/10\/21\/fact-check-biden-amassed-wealth-through-speaking-and-book-profits\/5981003002\/\">maintains<\/a> that <a href=\"https:\/\/www.cnn.com\/2020\/09\/29\/politics\/joe-biden-tax-returns\/index.html\" target=\"_blank\" rel=\"noreferrer noopener\">$15.6 million<\/a>\u00a0of the Bidens\u2019 income from 2017 to 2019 \u201cwas from speaking fees and book deals,\u201d <a href=\"https:\/\/www.cnn.com\/2020\/09\/29\/politics\/joe-biden-tax-returns\/index.html\">citing CNN<\/a>, which sources to \u201cfinancial documents released by Biden\u2019s campaign.\u201d But those documents don\u2019t reveal that.<\/p>\n<p>The Bidens\u2019 2017 tax return shows that <a href=\"https:\/\/s3.amazonaws.com\/pdfs.taxnotes.com\/2019\/J_Biden_2017.pdf\">$10 million<\/a> of income was via the S-corporations. The Bidens\u2019 2018 tax return shows <a href=\"https:\/\/s3.amazonaws.com\/pdfs.taxnotes.com\/2019\/J_Biden_2018.pdf\">$3 million<\/a> in income from the S-corporations. The tax returns have no details of how the S-corporations made money.<\/p>\n<h2>Book Advance?<\/h2>\n<p>In The Federalist, Bob Anderson has <a href=\"https:\/\/thefederalist.com\/2022\/04\/06\/joe-bidens-released-tax-returns-dont-explain-millions-in-income-where-did-it-come-from\/\">explained<\/a> that the Bidens\u2019 book sales were too low to be the likely source of all the income, but that perhaps the publisher of the Biden\u2019s book deal, Flatiron Books, paid a huge advance. Flatiron did not return requests from The Federalist to confirm a <a href=\"https:\/\/www.publishersweekly.com\/pw\/by-topic\/industry-news\/book-deals\/article\/73268-biden-books-go-to-flatiron.html\">report<\/a>\u00a0that\u00a0Flatiron\u00a0gave an $8 million advance in 2017 to the Bidens.<\/p>\n<p>\u201cPolitical memoirs have a habit of never earning back the massive advances that are given out,\u201d <a href=\"https:\/\/goodereader.com\/blog\/e-book-news\/macmillan-offers-joe-and-jill-biden-60-million-book-contract\">according<\/a> to one book reviewer.<\/p>\n<p>The publisher would understandably want the president to be the one to reveal the details of the advance.<\/p>\n<p>The White House claimed that the tax returns released last week demonstrate President Biden\u2019s \u201ccommitment to being transparent with the American people about the finances of the commander in chief.\u201d<\/p>\n<p>The White House should follow up with the tax returns for the Bidens\u2019 S-corporations, going back to when they were founded in 2017.<\/p>\n<hr class=\"wp-block-separator\" \/>\n<div class=\"article-author-description fst-italic\">\n  Eleanor Bartow is the features editor at The Federalist. She was an editor and investigative reporter at the Daily Caller, editor-in-chief of the American Enterprise Institute\u2019s magazine, and a reporter for Congressional Quarterly. Her articles have been published with The New York Times, The International Herald Tribune, Real Clear Investigations, The American Spectator, and others. She has been interviewed on Fox News Radio, National Public Radio, and WABC. She received a Fulbright Professional Grant in Journalism and was a fellow with the Claremont Institute and National Review Institute. Follow her on Twitter at <a href=\"https:\/\/twitter.com\/elliebartow\">@elliebartow<\/a>.<\/div>\n","protected":false},"excerpt":{"rendered":"<p>President Joe Biden released his tax returns last Friday, and the White House claimed \u201cwith this release, the President has shared a total of 24 years of tax returns with<\/p>\n","protected":false},"author":686,"featured_media":2315279,"comment_status":"open","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1443048","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1443048","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/686"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1443048"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1443048\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1443048"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1443048"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1443048"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}