Hunter Biden could be facing two misdemeanor counts and two felony counts.
These charges would likely include two misdemeanor counts for failure to file taxes, one felony count of tax evasion related to a business expense, and the gun charge which is a potential felony, according to NBC.
The outlet cited two senior law enforcement sources claiming there was "growing frustration" inside the FBI because investigators finished most of their work on the case a year ago, and charges have not been laid. A senior law enforcement source added that the Internal Revenue Service finished its investigation over a year ago as well.
It had been previously reported that federal investigators believed they had enough evidence to charge Hunter Biden with tax crimes and a false statement related to a gun purchase but that so far the decision to file charges has not been made. The decision on whether to bring charges rests with US Attorney David Weiss.
The federal investigation of Hunter Biden's international business relationships, which have national security implications, began in 2018. The focus of the inquiry has narrowed into an examination of the income he earned from those ventures and a false statement he allegedly made while purchasing the firearm.
The purchase required him to fill out a form that included a question about whether he was addicted to or abusing any unlawful substance. Hunter Biden has been open about his use of cocaine in 2018, which is when he purchased the weapon. He did not disclose the drug use on the form.
On Thursday it was revealed that a whistleblower from within the Internal Revenue Service has come forward claiming that the department covered up Hunter Biden's alleged tax evasion.
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