January 1, IRS Whistleblower Claims Biden Owes $127K

Chris Jacobs, a former Republican aide on Capitol Hill, has filed IRS whistleblower complaints against President Joe Biden and his accountant, claiming that Biden owes $127,000 in back taxes.

“Federal agencies must implement laws on a non-partisan basis,” Jacobs said.

“The fact that the IRS did not audit Joe Biden’s 2017 through 2019 returns, despite several articles publicly raising questions about the propriety of his actions, raises questions about how the IRS administers our nation’s tax laws, and whether political considerations played a role in the IRS’ decisions.”

According to reports, Biden and his wife, Jill, utilized tax loophole in 2017 and 2018, wherein they avoided paying the 3.8% Medicare tax by routing $13.3 million through “S corporations.”

“The facts do not suggest that Mr. Biden arrived at anything approaching a level of ‘reasonable compensation’ consistent with IRS guidelines. Instead, Mr. Biden’s salary level appears to have been set arbitrarily at a level just slightly above the Social Security wage base, with other factors — Mr. Biden’s own salary history, the compensation received by comparable individuals and comparable filers, and the labor vs. capital allocation — all but ignored,” Jacobs wrote in the complaint.

Republican lawmakers have vowed to investigate Biden’s taxes if they regain Congressional majority. They have also criticized the president, saying it’s hypocritical of him to urge the wealthy to pay their “fair share.”

Source:

Biden, accountant hit with IRS whistleblower claim that prez owes at least $127K