According to reports, Hunter Biden took out about $39,820 from his daughter Maisy’s 529 college savings plan in 2019. The Internal Revenue Service (IRS) is considering felony tax charges because this withdrawal was not shown as income on his tax returns.
Despite suggestions for felony charges pertaining to $52,611 in unreported income, federal prosecutors instead pursued misdemeanor charges for failing to pay $22,860 in taxes.
In their testimony before the House Ways and Means Committee, IRS Special Agents Gary Shapley and Joseph Ziegler claimed that the DOJ had obstructed their inquiry into Hunter Biden’s financial affairs. They asserted that the DOJ stopped them from conducting some of their investigations, including looking into evidence that might point to President Joe Biden.
The agents claim that out of the $8.3 million that Hunter Biden made from transactions in nations like China, Russia, and Ukraine, more than $2.2 million was not taxed.
According to emails found on his laptop, he requested that his wealth management team move $20,000 from Maisy’s 529 account to his personal account after learning that he had just 44 cents remaining in his bank account.
Hunter Biden acknowledged draining his daughter’s college fund in an email to his personal assistant on December 28, 2018, saying, “I am fully aware of what Kathleen wants.” When the time comes, I will take care of the tuition.
These incidents have cast doubt on how the investigation was conducted and the choices made by federal prosecutors. The accusations have sparked calls for more investigation into the situation and raise the possibility of a conflict of interest.
