we re supposed to believe he cheated his clients and hooj conglomerates and financiers are writing checks for nothing? if so, did hunter biden declare gift on his tax return? that is subject to gift tax. i don t believe he did. spin coming out of democrats is desperate and hilarious to pretend it is nothing that joe biden appeared on speaker phone at 20 business meetings with benefactors spraying him with diamonds and cash to pretend that is nothing and joe biden was just dialed in to talk about the weather, of course joe biden is not going to discuss the fine points of the deal. he is the chairman. it is just the whole point of
mr. shapley, under u.s. tax law, on all income received from legal and illegal right? yes. hypothetically, if a person subject to u.s. tax receives a million dollars for serving as a director for an oil company, they would owe taxes on the 1 million, perhaps as much as 38%. if they re a u.s. taxpayer, yes. fail you re to declare the receipt of such income violates u.s. tax code, correct? yes, it would. failing to timely pay the tax owed in whatever amount violates the tax code, correct? yes, it does. the tax crowed has criminal and civil penalties for these violations, correct? that is correct. if a person receives a million dollar payment and conveys 10% of that amount to another person, that person making that payment may have to pay a gift tax on that amount, correct? yes. if they say it s a gift, yes.
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​Gifting is often used to transfer property or money within the family or to relatives by way of will or inheritance. As per the amendment announced in Budget 2022, gifting of cryptocurrency can invite gift taxation. Read on to know the documents an individual should have to prove to tax authorities that gift transaction is genuine.