In 2020, while Joe Biden was running for president and claiming that his son Hunter Biden had done nothing wrong, the IRS was working with Hunter’s accountant to erase delinquent taxes before they became an election scandal.
According to IRS memos obtained by Just the News, IRS agents discovered that Hunter Biden was continuing to misrepresent his income to his accountant.
Just the News reports that “Jeffrey Gelfound, an Edward White & Company tax accountant hired by Hunter Biden, was a cooperating witness in the IRS criminal probe of the first son and is likely to be a key witness if the younger Biden is charged with tax crimes by Special Counsel David Weiss.”
Gelfound also could become a witness of interest to the House Oversight and Accountability Committee as it digs deeper into the Biden family finances as part of the ongoing impeachment inquiry in Congress.
Buried in the mountain of 700 pages of IRS whistleblower documents released in September by the House Ways and Means Committee are interview reports, affidavits and case summary memos chronicling Hunter Biden’s efforts at the height of the 2020 presidential campaign to remedy his delinquent income taxes dating to 2014 and the income he made from the Ukrainian energy company Burisma Holdings.
Gelfound told agents the efforts in 2020 to pay off Hunter Biden tax debts became a priority because of fears the IRS and other tax authorities would place liens that would become public, a potential embarrassment for the Biden family.”
Yeah, if there was going to be media attention because they were going to lien,” Gelfound told IRS agents in an April 2021 interview when asked whether erasing the tax debts had become prioritized.
And guess what income Hunter Biden was trying to conceal? Money that came from a company he created with former CEFC China Energy Company Limited chairman Ye Jianming. Oh, but here’s where it gets interesting:
In a later interview with IRS investigators, Gelfound told the agents that Hunter Biden originally represented payments from Hudson West III, one of the limited liability companies tied to Hunter Biden, as loans made to him personally. Gelfound dug deeper, determined to classify the payments properly in his accounting of the younger Biden’s taxes, the memos show.
After a review of the provisions of the LLC, he found that Hunter Biden was owed a retainer fee and compensation from the company, meaning that Hunter had falsely classified income as loans. Hudson West III was a joint venture established by Hunter Biden and CEFC associate Gongwen Dong.
So this was money laundered through one of the Biden family shell companies… fascinating, isn’t it? Oh, and the money was classified as a loan, just like the payments made to Joe Biden from his brother James, who wrote two checks to him classified as “loan repayments in the memo line of the checks. One such check was for $40,000 that had been laundered through the Biden family shell companies that originated from… <drumroll> CEFC.
There’s certainly a lot to unpack in this story. The IRS clearly knew that Hunter Biden was guilty of tax crimes and refused to charge him. Whether it was trying to conceal foreign payments or fraudulent write-offs, like when he wrote off payments to a prostitute, these memos prove that the IRS had the receipts proving Hunter’s guilt. Then there’s the method Hunter Biden used to conceal what should have been taxable income, which is strikingly similar to the way Joe Biden was paid via his brother.
Jeffrey Gelfound will now likely be a key witness in various ongoing investigations. Gelfound likely knows where all the skeletons are and is cooperating with investigators already. But things might get really interesting if he testifies before the House Oversight Committee. He may blow the lid off of Hunter’s shady tax schemes and the IRS’s efforts to cover them up.