We’ll keep this brief. During the Trump years Hunter Biden was paying about $50K/mo. to live in Zhou’s Delaware beach house for a period of nearly a year (11 mos.)—even though Zillow shows that the most any other house in the area rented for was $6K/mo. Hmmm. Those rental payments totaled about $550K to the “Big Guy”. There are other twists and turns that you can read about here:
Why Was Hunter Paying Joe Biden $50k Per Month To Rent House Where Classified Documents Found?
It doesn’t take much imagination to come up with a less than innocent explanation for this, although both the original NYPost article (Miranda Devine) and Zerohedge do exactly that—they leave it to your imagination. Yeah, I know. You’re probably wondering my Miranda Devine was checking this stuff out. Not to denigrate Miranda in any way, but maybe some knowledgeable person suggested to her that there was fruitful research to be conducted in that direction. Anyway …
Karl Denninger does nothing of the sort—leaves nothing to our imagination. Now, I’ll admit I have had nothing to do with corporate tax law since law school, so I’d be a fool to get down into those weeds. However, KD professes familiarity with S-Corp tax law:
Why is this relevant? Because it so happens …
Joe's tax returns from the subject year shows business income from pass-throughs (two S corps) which is perfectly legal. The tax returns do not show income in that classification from other sources; ergo, said "rental" has to be inside one of those two corporations or there is a serious felony involved, because that would be $600,000 of undeclared (and untaxed) income. Line 17 of Schedule 1 shows this and ties back from Schedule E, as it must. The other "business income or loss" from Schedule C is inconsequential in amount.
Again, I’m not going to pretend to have any tax law expertise. The problem appears to revolve around the fact that the house was not titled in either of the two S-Corps—it was titled to Zhou and Doc Jill. I’ll skip some of the detailed explanation and get to KD’s bottom line:
If the rental income isn't in those two S-Corps then either it never existed or Joe and Jill ripped off the government and committed tax fraud on the $600,000 paid by Hunter to Joe that is not declared anywhere in their state or federal tax returns.
In any event someone is hiding something in there. Whether this is more confabulation of a drug-addled Hunter or was disclosure of "10% for the big guy" kicked back to his father under the table and either improperly buried in an S-Corp "profit" that never owned the asset in question and thus can't do that or Joe and Jill got $600,000 worth of undeclared income and didn't pay taxes on it is now the question that demands an answer. After all tax cheating in that sort of size is serious business, felony-level serious, and is one of the few plausible explanations for what those documents disclose.
I'm not a CPA or Enrolled Agent; I paid both when I ran corporations, but I have run an S-Corp, an LLC and a C-Corp and signed tax returns listing income from all three over the years. I know what the law is in this regard because I respected and properly followed same.
I can’t vouch for this. Nevertheless, the circumstances—a son paying rent to a father at a rate 8x the going rental in the area—certainly invites inquiry. It sure looks like kicking back money to the Big Guy, whatever the percentage.
This looks like potentially VERY BIG TROUBLE for Zhou. Will he get the hints that are coming his way without letup?
Just like Johnny Cash I find you walking the line as we go down this road
It looks like ZHOU is being taken out by the deep state in an orderly and proficient manner
Not a lot of details are necessary With a lot of house cleaning to follow it seems
Maybe you’ll find a regime change at the end of the road
Back to that good old republic made by We the people
Hopefully Putin is watching and he’s going to hold onto his dogs of war so they don’t take out too many of his Ukrainian Slavic brothers . . .

Why now? Old Joe won't be charged with anything. Probably neither will his crackhead son. Perhaps now because a SC is needed to cover up the greater scandals.