Hunter Biden, son of President Joe Biden, has reached a plea agreement with federal prosecutors, pleading guilty to two misdemeanor tax charges and entering a pretrial diversion agreement for a felony gun charge. This agreement concludes a years-long investigation into his financial and personal dealings.

The White House issued a brief statement affirming their support for Hunter as he navigates this process. Spokesperson Ian Sams stated, "The President and first lady love their son and support him as he continues to rebuild his life. We will have no further comment."

According to U.S. Attorney David C. Weiss, Hunter Biden earned over $1.5 million annually in 2017 and 2018 but failed to pay the required income tax, exceeding $100,000 in each of those years. The gun charge stems from his possession of a firearm between October 12 and 23, 2018, while being a user of controlled substances.

The potential penalties for these charges include up to 12 months in prison for each tax count and a maximum of 10 years for the gun charge. The final sentence will be determined by a judge considering sentencing guidelines and other factors.

The U.S. Attorney's office confirmed that the investigation remains ongoing. This investigation, initiated in 2018, focused on Hunter Biden's tax affairs and involved scrutiny of suspicious activity reports related to funds from China and other countries.

This case has drawn significant attention due to Hunter Biden's familial connection to the President. It also follows a 2020 report by Fox News regarding an FBI investigation into a laptop and hard drive allegedly belonging to Hunter Biden in connection with a money-laundering probe.

Hunter Biden publicly acknowledged the tax investigation in December 2020, asserting his confidence in a positive outcome based on his legal and appropriate handling of his financial affairs with the guidance of tax professionals.

Representatives Marjorie Taylor Greene and Andy Biggs have also spoken on the matter, emphasizing the ongoing Republican-led investigation into the Biden family's business dealings.