Devon Archer, Hunter Biden’s best friend in business, partially corroborated prior IRS whistleblower testimony about the means by which Hunter Biden evaded paying taxes on money received from Burisma Holdings.
As Breitbart News reported, the IRS whistleblower alleged Hunter Biden received the money from Burisma through a Chinese firm run by the Biden family business. Instead of reporting the money as income and paying taxes, the Chinese firm, operated by the Biden family business, allegedly loaned the money to Hunter Biden.
The whistleblower testified:
So [Hunter Biden] sets this out in this email and what ends up happening is — so imagine this. If you are an owner of a company and your friend tells you that, I want to pay my wages to your company and you’re going to loan the money back to me, that’s essentially what happened here. He took loans from that corporation — which were distributions. And he didn’t pay taxes on those loans.
…
So essentially for 2014, we had found that Hunter didn’t report any of the money he earned from Burisma. So the reason why this is important is because Hunter set it up this way, to not — to essentially earn the money through his friend’s corporation and then have his friend pay him back half of the money as loans, quote, unquote, loans.