The deal was also meant to resolve a federal firearms offense. Hunter Biden failed to pay between $1.1 million and $1.5 million in federal taxes before the legal deadlines and was set to plead guilty to two tax misdemeanors with prosecutors agreeing to recommend a sentence of probation. (Updates with additional background.Wednesday’s hearing for Hunter Biden was already poised to be a historic event, as the son of a sitting US president appeared in court to plead guilty to federal tax crimes, bringing a controversial investigation to a near close.īut the three-plus hour hearing saw the original plea agreement nearly fall apart and leaves the son of President Joe Biden in limbo for the moment – and will only further brighten the spotlight on the issue as congressional Republicans pursue their own investigations into Hunter Biden’s actions. That New York Times earlier this year reported that Hollywood entertainment lawyer Kevin Morris lent more than $2 million to Biden to help resolve his tax issues.īiden’s proposed plea deal also covers a weapons charge stemming from his possession of a handgun in 2018 despite knowing he was addicted to illegal drugs. That individual also paid $45,661 and $197,372 to resolve outstanding tax issues from 20, according to the filing. In October 2021, the court filing notes that Biden’s tax liabilities for 20, which were $955,800 and $956,632 respectively, were paid for by an unidentified third party. By May 2019, he had spent money he could have used for that purpose “on personal expenses, including large cash withdrawals, payments to or on behalf of his children, credit card balances, and car payments for his Porsche.” Despite repeated encouragement by his accountant, Biden never signed or submitted his returns.Īccording to the agreement, Biden failed to pay his taxes despite having the money to do so. The accountant prepared Biden’s returns and sent them to him for review and signature. The documents cites Biden’s own memoir in which he describes “a spring and summer of nonstop debauchery” in 2018.Īccording to the agreement, Biden was well aware of his tax liabilities from an accountant he hired. According to the agreement, these high earnings came as his drug addiction continued to worsen. The sources of his income weren’t identified in the court filing, but Biden has acknowledged ties to Chinese company CEFC China Energy, Ukrainian energy company Burisma and the law firm Boies, Schiller & Flexner.īiden made more than $2.1 million in 2018. In 2017, Biden made more than $2.3 million, with $1 million coming from a company he formed with the chief executive officer of a Chinese conglomerate, $664,000 from a Chinese infrastructure investment firm, $500,000 from a Ukrainian energy company, $70,000 from a Romanian business, $48,000 from an international law firm and $666,000 from domestic business interests. Republicans, who have criticized the proposed plea as a sweetheart deal, have seized upon the millions Hunter Biden made to argue that his father must also have benefited.Ī lawyer for Biden didn’t immediately respond to a request for comment on Wednesday. The deal, which would see the president’s son plead guilty to misdemeanor charges and serve no jail time, was put on hold after Noreika raised questions about the terms last week.Īn exhibit incorporated into the agreement between Biden and federal prosecutors in Delaware sets out in some detail his earnings in 20, two years for which he failed to pay income tax. (Bloomberg) - Hunter Biden earned more than $4 million from a Ukrainian energy company, a Chinese private equity firm and other sources during two years in which he descended deeper into substance abuse, according to his proposed plea agreement to federal tax charges.īiden’s draft plea was announced in June, but the actual agreement was only made public on Wednesday after US District Judge Maryellen Noreika ordered it unsealed in response to media requests.
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