The first son of President Joe Biden, Hunter Biden, is reportedly the target of felony tax charges by the Internal Revenue Service (IRS) for allegedly taking nearly $40,000 out of his daughter Maisy’s college fund without disclosing it as additional income on his 2019 tax returns. This is a shocking revelation. The case has become more serious, exposing a trail of financial mismanagement and emotional hardships that highlight the Biden family’s turbulent past.
IRS Investigation: In testimony before the House Ways and Means Committee, IRS Special Agent Joseph Ziegler revealed that federal tax inspectors discovered Maisy Biden’s 529 college savings plan had an improper withdrawal of about $39,820. Hunter Biden allegedly used the money to support his continued battle with addiction, which included buying crack cocaine and going out with prostitutes.
Unreported Income and Tax Charges: In his affidavit before the House subcommittee, Ziegler revealed more financial irregularities, such as “personal distributions” of roughly $12,791 that were claimed as business deductions. The IRS suggested filing criminal tax charges for the $52,611 in undeclared income. Unexpectedly, federal prosecutors chose to charge a misdemeanor tax offense, emphasizing the $22,860 in unpaid taxes associated with the concealed funds.
Family Intervention and Increasing Addiction: The information follows Hunter Biden’s 2021 memoir, “Beautiful Things,” where he talked of using crack cocaine and hiding out in a motel to avoid a family intervention. During a turbulent time in Hunter’s life, Maisy’s college savings appear to have been misused as part of a larger pattern of financial mismanagement.
IRS Charges of Slow-Walking: Special Supervisory Agent Gary Shapley and other IRS agents have made accusations that the Justice Department “slow-walked” their investigation of Hunter Biden’s financial activities. The IRS also asserts that they were prevented from conducting certain investigation actions, which raises questions about possible leads that could lead to President Joe Biden.
Financial Difficulties and Depleting College Funds: According to emails recovered on Hunter Biden’s laptop, his first son’s bank account was completely empty in December 2018. He attempted to withdraw money from Maisy’s 529 account out of desperation. His ensuing spree of excessive spending on his addiction corresponded with the depletion of the college savings account.
Effect on Joe Biden’s Legacy: Although Hunter Biden’s financial issues are private, President Joe Biden’s legacy may be affected more broadly by the scrutiny. Concerns over the financial integrity of the Biden family and the possible effect on the public’s opinion of the president in office are brought up by the continuing investigation.