BigOrangeMojo
The Member in Miss December
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@BigOrangeMojo : what are the tax rules if someone pays say.... $2 mil to the IRS to cover your taxes? I remember something like that in Breaking Bad but that was a criminal enterprise which our leftist friends says the bidens would never be part of.
By 2019, Hunter Biden had "spent almost the entire sum" of his 2018 income "on personal expenses, including large cash withdrawals, payments to or on behalf of his children, credit card balances, and car payments for his Porsche," Wise said.
Those outstanding tax obligations -- ultimately totaling hundreds of thousands of dollars -- went unpaid until 2020, when a third party paid the IRS more than $2 million to relieve Biden of his tax burdens, interest and penalties. ABC News has reported that Kevin Morris, an attorney and confidant to Biden, made those payments.
Depends on the arrangement.....
If it was a gift, then there could be some serious gift taxes due.
If it was for "services" performed by Hunter, then that would need to be Hunter's 1040.
If it was a loan, then there better be arms-length interest rate and terms. If not, then it likely runs into gift and income tax issues...