If they can buy investment real estate, remodel kitchens, and pay 40K tuition for the kids on “45K per year”, I’d say we need a bill to increase funding for IRS audits.
When you own the company, you can "pay yourself" what ever salary you want, within reason. It has to be believable, and at least pass a quick look over by the IRS.
I suspect the company check book has been paying for a lot of things, like tuition, remodling, "company" cars, a cabin in the woods, RV's etc. and be written off as a business expense of one kind or another.
IF the IRS takes an interest in this guy, they are going to go back as far as they can 7 years or more, with a fine toothed comb.
Not only will this guy have a lot of back taxes to cough up, he may have many other charges to deal with depending on how many government programs he took advantage of by being "poor" on paper, and of course tax evasion charges.
It will be interesting if Pelosi and Reid provide free lawyering for them, considering they were the ones who wrote the script for this "phony poor family".
I wonder if Pelosi and Reid may be on the hook for charges as well, or at least be held responsible for LYING to the public, organizing as phoney story in order to advance their cause.
The GOP should demand a formal inquiry into their actions, you could be sure the RATS would insist on one had this been a republican scam.
>If they can buy investment real estate, remodel kitchens, and pay 40K tuition for the kids on “45K per year”, I’d say we need a bill to increase funding for IRS audits.<
One or both parents probably has a trust fund. That wouldn’t show up in the income he makes from his business.