The IRS contemplated pursuing potential felony tax charges against Hunter Biden for his withdrawal of approximately $39,820 from his daughter Maisy Biden’s 529 college savings plan.
This sum was omitted from his 2019 tax returns as additional income, and Hunter Biden allegedly used a significant portion of these funds for expenditures related to illicit substances and adult entertainment, according to the NY Post.
IRS Special Agent Joseph Ziegler disclosed these tax findings while testifying before the House Ways and Means Committee.
As reported by the Post, after liquidating Maisy Biden’s college savings, Hunter Biden reportedly descended further into the clutches of his addiction. Emails retrieved from his laptop reveal that in the ensuing months, he allegedly made payments to his drug dealer, used a webcam service, and patronized prostitues.
In his 2021 memoir, “Beautiful Things,” Hunter Biden said he evaded a family intervention effort, choosing instead to seclude himself in a hotel room to consume crack cocaine.
In the affidavit Ziegler submitted to the House panel, he said Hunter Biden claimed as business deductions approximately $12,791 in personal distributions.
Despite the recommendation of felony charges pertaining to the unreported income amounting to $52,611, federal prosecutors opted for a misdemeanor tax charge for Hunter Biden’s failure to remit the $22,860 in taxes associated he owed on the unreported income.
Ziegler and IRS agent Gary Shapley told the House committee that their investigation into Hunter Biden faced delays and hindrances by the Justice Department. They said certain investigative avenues, potentially involving President Joe Biden, were obstructed during their inquiry.
IRS investigators found Hunter Biden avoided $2.2 million in taxes on $8.3 million income from international deals. He later admitted using his daughter’s college fund in a December 2018 email as she neared graduation from high school.
Notwithstanding the college fund withdrawal, Maisy Biden recently graduated from the University of Pennsylvania with a fine arts degree.
Jim Thomas ✉
Jim Thomas is a writer based in Indiana. He holds a bachelor’s degree in Political Science, a law degree from U.I.C. Law School, and has practiced law for more than 20 years.
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