Before Congress even considers the legislation, conservatives rightly skeptical of doling out new funds and authority to the IRS should pose one simple request to the Biden administration: You want to audit other "Rich" people? Why not audit yourself first, Mr. President? While the press has largely ignored it in favor of wall-to-wall coverage of his predecessor's tax practices, Biden's returns raise their own set of questions.
'Aggressive' Use of Loophole Biden Now Wants to Close As I previously noted, from 2017 through 2020, Joe Biden and his wife Jill characterized the vast majority of their income-more than $13.6 million worth-as profits from two S-corporations rather than wages.
The Bidens avoided paying nearly $517,000 in payroll taxes that fund Medicare and Obamacare.
In 2017, Biden reported total income of more than $9.6 million, yet paid payroll taxes on $145,833-only 1.45 percent of his income.
Two years ago, an analyst at the liberal Tax Policy Center called the Bidens' behavior "Pretty aggressive," while another tax analyst said the Bidens used the S-corporations solely to avoid paying Medicare and Obamacare taxes.
If President Biden wants to audit others, why shouldn't he demand that the IRS audit his own returns first-to put to bed any questions about his conduct-before trying to sic the agency on others? If Biden finds questions about his tax practices too embarrassing to request an audit of his returns, Congress should settle the matter for him.
While the agency normally audits only returns for the last three years, the IRS can go back into 2017 if it finds significant discrepancies in the Bidens' most recent returns-or if Congress instructs it to do so.
https://thefederalist.com/2021/07/13/why-congress-should-demand-an-audit-of-bidens-taxes/
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