“Hunter paid? Hunter? Get real. We know who paid.”
That’s the way the scam works. Joe gets Hunter the influence peddling rep job for $83,000 a month and Hunter pays Joe $50k a month in rent on the house.
Question: Did Joe report that $49,910 a month in rent to the IRS that Hunter said he paid? Do Hunter’s income tax returns show the ability to pay that level of rent?
Does $49,910 a month pass muster as “market rent” for that house? “Market rent” is an IRS term. The usual problem is Daddy buys a condo for his son (often during college days” and rents it to the son for way under market, triggering an IRS problem. IRS will then “impute” market rent and charge Daddy taxation for the imputed amount above what Sonny paid.
This is backwards from usual but I bet there’s an IRS rule problem here.
Out of the 87,000 new IRS agents, 86,000 will be assigned to this little problem. Their assignment is to make it go away permanently. Each of the 86,000 have been assigned their own personal Memory Hole and the furnaces are running full bore 24x7.
Not to worry. They are clean n’ green electric arc furnaces, not natural gas fired furnaces.
Hunter complains in messages found on the laptop from hell about having to pay for all sorts of bills for the big guy with the “easy” money... substantial remodeling projects and utility bills as being two of the examples.
There is another IRS problem. If Hunter made $83,000 a month, he had to pay income tax on those funds. Paying rent for a personal residence is not deductible. At $83,000 per month, the income tax rate is in the top bracket, which has been in the 40% range for quite some time. that means that roughly $33,000 per month went to pay income taxes (or should have). The rental payments are, as mentioned, not deductible against that income, unless it is a property that is actually used as for business purposes . The fact is that even if it was used for business (and we know that it wasn’t), that level of rent is way above the highest market rate in that neighborhood, guaranteed. Thus, even if it was somehow or other deductible, it wouldn’t be to the extent of $50,000 per month. Anyhow, if Hunter was actually paying $33,000 a month in income tax, and $50,000 in rent, then there would be nothing left over . This doesn’t even include paying employment taxes or state income taxes on the $83,000.
Since the Democrats decided to open up the income tax returns of government officials to examination by the Congress, I think that it is now required that the Republican House tell the IRS to turn over Hunter’s and Joe Biden‘s income tax returns for the past six or seven years, at least. There is clearly something dishonest going on here. The legitimate reason for getting those returns is to examine how effective the IRS is at auditing returns of wealthy people who may be taking advantage of their power and influence. There are plenty of these people, and new procedures can be easily designed by looking at where the IRS went wrong with the Biden (crime) family.