BlackRock Tax Advisors

President Joe Biden’s son, Hunter Biden, is set to be arraigned in Los Angeles today on federal tax charges after the collapse of a plea deal. He is expected to plead not guilty to nine felony and misdemeanor tax offenses, which stem from a four-year scheme to evade paying $1.4m to the IRS. Hunter Biden’s tax and business dealings have been under investigation, and the plea deal would have resulted in two years’ probation. However, the deal fell apart, and now the tax and gun cases are moving forward. If convicted, Hunter Biden could face a maximum of 17 years in prison. The case has drawn political attention, with Republicans criticizing the original proposed plea deal and attempting to link Hunter Biden’s business dealings to his father, President Joe Biden. No evidence has emerged to support these claims. The arraignment comes a day after he appeared as an audience member at a House Oversight Committee meeting in Washington, D.C., with members set to vote on a contempt of Congress charge. He left after a short period, leaving Republican and Democratic committee members debating over whether to let him address the panel.