Rep. Republican Dan Meuser has demanded the IRS investigate $240,000 in loan repayments President Biden received from his brother, saying the committee investigating financial transactions for foreign business ties has been blocked by the White House.
“The potential lack of a formal written agreement or promissory note raises questions about the legality and transparency of these loans,” Meuser (Pa.) wrote in a Jan. 17 letter to IRS Commissioner Daniel Werfel.
“Of particular interest is whether President Biden collected interest on these loan repayments, and if so, whether this interest was properly reported in his tax filings,” he added.
“If the payment is neither a loan repayment nor a gift, it is actually ordinary income received by Joe Biden, Jill Biden, or an entity related to them.”
Rep. Dan Meuser (R-Pa.) asked the IRS in a Jan. 17 letter to investigate President Biden’s repayment of a $240,000 loan to his brother James. AP Former revenue secretary in Pennsylvania, Meuser said the House Oversight Committee was blocked by the White House when it asked for verification records on the loan. Reuters
Meuser, who served as Pennsylvania’s revenue secretary from 2011 to 2015, demanded a “thorough review” and “detailed feedback” from the IRS about the payments, saying it was “not only a matter of tax compliance but also one of upholding public confidence in the integrity of the institution our government.”
He told The Post that the IRS investigation should be able to “determine the validity of the loans that Joe Biden was supposed to make to his family members that they now claim to be paying back.”
“If the IRS cannot verify the existence of the loan, then Joe Biden, the recipient of the payment, willfully misrepresented the purpose of the payment and violated state and federal tax laws,” he said.
Meuser, who sits on the House Financial Services Committee, informed IRS Commissioner Daniel Werfel that he expects an answer to his questions about the loan by Feb. 16. AP
“This falsification of records will only be done to hide payments made indirectly to Joe Biden from foreign entities, including a $40,000 payment from a Chinese Communist Party-related company. If the average citizen broke the tax law in this way, they would be imprisoned.”
Meuser told Werfel that he expected an answer to his questions about the loan by February 16.
The loans were revealed in bank records obtained by the House Oversight Committee as part of the president’s impeachment inquiry and his investigation into foreign business dealings that benefited his son and brother.
“If the IRS cannot verify the existence of the loan, then Joe Biden, the recipient of the payment, willfully misrepresented the purpose of the payment and violated state and federal tax laws,” Meuser told The Post. AP
A $40,000 check from first brother James Biden and his wife Sara Biden landed in Biden’s bank account on September 3, 2017, which Oversight Chairman James Comer (R-Ky.) called money “laundered” from deals reached with Chinese government-related energy companies.
CEFC China Energy paid Hunter and James Biden $6.1 million in 2017 and 2018 as part of “complicated financial transactions,” according to an Oversight memo released in November.
About $5 million of that amount was disbursed 10 days after Hunter sent a threatening text on July 30, 2017, to a CEFC associate, in which he said he “sat down” with his father and demanded to know “why commitments made have not been met.”
A $40,000 check from first brother James Biden and his wife Sara Biden landed in Biden’s bank account on September 3, 2017, allegedly “laundered” from entities linked to the Chinese government. Corbis via Getty Images
Emails found on the first child’s laptop that were left behind also show that the “big man” was promised a 10% stake in the deal. Communications and other testimony from Biden’s family members and associates have given Biden the same title.
Another $200,000 check was deposited into the former vice president’s bank account on March 1, 2018 — the same day his younger brother James was paid by a now-defunct US hospital chain after he promised to help it find Middle Eastern investors.
The former rural hospital chain, Americore Health, also deposited $400,000 in James Biden’s account earlier that year on January 12, for a total of $600,000.
Emails found on the first child’s laptop that were left behind also show that the “big man” was promised a 10% stake in the deal. AP
The payment was “based on the assertion that his last name, ‘Biden,’ could ‘open doors’ and that he could secure significant investment from the Middle East based on his political connections,” a July 2022 bankruptcy court filing showed.
After “reviewing various financial records,” Meuser said the House Oversight Committee has found “no evidence of the existence of such a loan.”
“In November, Chairman Comer wrote to White House Counsel Edward Siskel asking about the documentation for the March 2018 loan repayment,” he told Werfel.
Hunter, who pleaded not guilty to federal tax fraud charges earlier this month, will be deposed by Comer’s committee on his overseas business dealings on February 28.
“The letter highlights the lack of evidence supporting the White House’s claim that the $200,000 check was repayment of a loan from Joe Biden to his brother.”
White House Counsel’s Office spokesman Ian Sams has dismissed the alleged loan invalidity as “lies and conspiracy theories.”
“After sifting through thousands of pages of private citizen bank records, they have once again shown zero evidence of wrongdoing by President Biden — and that’s because there was none,” Sams said last October in a statement when the first payments were revealed.
“This entire exercise has been a self-defeating wild goose chase that has only produced evidence that President Biden did nothing wrong.”
Sams did not immediately respond to a request for comment.
Hunter, who pleaded not guilty to federal tax fraud charges earlier this month, will be deposed by Comer’s committee on his overseas business dealings on February 28.
James and Sara Biden have yet to schedule their interviews with the panel after they were subpoenaed in November.
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Source: thtrangdai.edu.vn/en/
