Biden may owe up to $500k in back taxes, report says
"As demonstrated by their effective federal tax rate in 2017 and 2018—which exceeded 33%—the Bidens are committed to ensuring that all Americans pay their fair share," the Biden campaign said in a statement at the time.
Some experts believe that the IRS does not have the resources to investigate all the taxpayers who may abuse S corporations to avoid taxes. "There are millions — literally millions — of S corporations. So there might be a half a million S corporations that are playing this game," said John Bogdanski, who served as a member of the IRS Commissioner’s Advisory Group."And the IRS doesn’t have anywhere near enough of a budget to bring a half a million cases every year.
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