Hunter Biden In Huge Debt Despite $50,000 Monthly Salary From Burisma: Report

KEY POINTS

Hunter Biden owed the IRS $158,000 in taxes in 2018, says a report
It says a 2018 email from Wells Fargo stated that Hunter lacked $1,700 to pay for a Porsche
Hunter’s attorney says he has now fully paid his tax debts to the IRS

Hunter Biden, son of President Joe Biden, is in huge debt despite earning as much as $50,000 a month for serving on the board of a Ukraine-based holding company, an investigative report revealed.

In 2018, Bill Morgan, an accountant, warned Hunter that the State Department will withhold the renewal of his passport until he pays the IRS $158,000 in taxes. "They want $158,000," the accountant wrote in an email, according to CNN's investigative report.

"IRS has notified the State Department and they will not renew your passport until this is resolved," the email stated.

The report said that in another email, Morgan questioned Hunter about a $550,000 receipt, asking whether he should record it as a loan or an income from Burisma, a Ukrainian energy company where he served as one of the board members.

The emails were taken from a laptop that Hunter allegedly abandoned at a computer repair shop in Delaware and published by CNN on Wednesday. The publication noted that it hired former National Security Agency operative Jake Williams to authenticate a subset of emails related to the younger Biden’s finances.

In its investigative report, CNN also released an automated email that Hunter received in December 2018 from Wells Fargo. The email noted that Hunter lacked $1,700 to pay for a Porsche.

By March 2019, Hunter owed $370,000 in taxes and $120,000 in bank debt, according to an email from his then-assistant, the report said.

Chris Clark, Hunter’s attorney, told the publication that the First Son has now fully paid his tax debts to the IRS. It was not immediately clear whether Hunter has already paid his other debts.

The news about Hunter’s debts comes even as he received as much as $50,000 in monthly salary from Burisma for serving on its board from 2014 to 2019, according to a report from the U.S. Senate Committee on Finance’s Majority Staff.

In his memoir “Beautiful Things,” published in April 2021, Hunter wrote that the salary he was receiving from Burisma gave him cash to buy crack cocaine. He added that he was continuing to make amends “both figurative and literal” with the “wreckage of my past.”