This has long been the case, but it’s in the news again in a big way for President Donald Trump, and a far smaller one for his opponent, former Vice President Joe Biden. The Times raised questions about his tax compliance, and Mr. Trump derided its reporting but provided no details. Mr. Biden, who has released years of returns, has been called out for employing a tax move the Obama administration wanted to end. In 2017 and 2018 he avoided as much as $500,000 of payroll taxes by minimizing the wages his business paid to himself and his wife. On the 2019 return the payroll tax avoidance shrank to less than $10,000.

Source: Wall Street Journal October 09, 2020 09:33 UTC