Hollywood lawyer paid off over $2M of Hunter Biden’s delinquent taxes

https://nypost.com ^ | Hollywood lawyer paid off over $2M of Hunter Biden’s delinquent taxes | By Miranda Devine, Marjorie Hernandez and Patrick Reilly

[Red Badger]

Yes..................

[gibsonguy]

Imagine for a moment this was Don Jr.

[usafa92]

Isn’t this a gift, which in and of itself is taxable?

[jacknhoo]

The lawyer is most likely funded by China.

[Red Badger]

Yes.............................

[Ancesthntr]

Some issues here:

1) How (i.e. from whom or what entity) is the lawyer getting paid, and how much?

2) Is the lawyer reporting all of this funding as compensation?

3) If the funding is not compensation, then is someone reporting the money transferred to him as a taxable gift?

4) Has Hunter reported the $2 million as income? If not, then SOMEONE has to have reported it as a gift (unless this was done this year...in which case the gift MUST be reported on someone’s 2022 tax return).

Of course, this puts aside the issue of bribes/payoffs.

[Red Badger]

Here’s the scheme: ( I don’t know if this is actually workable)

Hunter gives lawyer $2 million as a ‘retainer’.

Lawyer pays IRS $2 Million taxes for Hunter.

Hunter now owes taxes on $2 Million which his substantially less than $2 Million.

Lawyer now owes taxes on $2 Million which his substantially less than $2 Million.

Hunter pays his tax on $2 Million, saving mucho dinero.

Hunter pays Lawyer’s ‘fee’ of tax on $2 Million....................

[Chode]

would that not be considered INCOME, and to be declared on his taxes???

[Wilhelm Tell]

I’m sure it is just charity and the lawyer doesn’t expect anything in return. /sarcasm

Hunter sure get$ a lot of “help” from all the charitable people out there.

[Red Badger]

Yes............................

[llevrok]

as I often say about Hunter - Al Capone was convicted of failure to disclose income by the IRS.

The reality is, we do not have an IRS nor FBI who would prosecute even with such obvious crimes.

[Red Badger]

Yet they are gong after Trump & Family like THEY ARE THE MOB!...................

[1Old Pro]

footed Hunter Biden’s overdue taxes totaling over $2 million

You don't just "foot" the bill. I suspect it was a 0 interest loan that will be repaid in priceless Hunter art.

[EVO X]

4) Has Hunter reported the $2 million as income?

The way I understand this transaction is the person paying off Hunter's 2 million tax liability is a gift. Hunter has no tax liability. The person making the gift that exceeds reporting requirements has to report it to the IRS..

[bray]

The Biden Family Laundry is running full speed.

[Mouton]

The copper would have machine gunned him.

[fhayek]

That’s just 4 paintings?

Yeah. Hunter could have cranked them out in an afternoon. Not sure why he needed the lawyer.

[SantosLHalper]

"Kevin Morris, an entertainment attorney and novelist who earned a fortune representing the co-creators of “South Park” and won a Tony Award as the co-producer of “The Book of Mormon,”

I wonder if this has anything to do with South Park not roasting Gropin'Joe since he's been POTUS?

[tina07]

The perverted drug addict son raked in millions from foreign countries. Why does he need anyone to pay off his tax bills? He spent all his ill-”be”-gotten gains (as his Daddy would say it) and couldn’t pay his own taxes?

[Svartalfiar]

Seems like this would amount to a gift of $2M, which would then require reporting on Hunter Biden’s tax forms.

I would assume a lawyer would have thought of that, and likely paid those off, too. So for a $2MM tax bill, he probably actually paid, assuming everything at a tax rate of 15%, $2,352,940 or so, to cover the additional $300M tax on the $2MM gift. Plus $45M for the $300M gift. Plus $6750 for the $45M gift. And so on until you get into pennies added at a time.