IRS reminds people to report illegal income and gains from property you’ve stolen
We’re mere days away from the start of the 2021 fiscal year tax season. As such, the Internal Revenue Service has released their latest guides to help you navigate the obscenely and needlessly complicated tax system. Here are some of the reminders;
- Illegal activities. Income from illegal activities, such as money from dealing illegal drugs, must be included in your income on Schedule 1 (Form 1040), line 8z, or on Schedule C (Form 1040) if from your self-employment activity.
- Stolen property. If you steal property, you must report its fair market value in your income in the year you steal it unless you return it to its rightful owner in the same year.
- Bribes. If you receive a bribe, include it in your income. (They also note that “Illegal bribes and kickbacks” are on the list of nondeductible expenses)
To the IRS, we thank you for your service. /s
Category: "Your Tax Dollars At Work", Government Incompetence
Well, after all, that’s how the authorities actually got Al Capone…
And yet The “Reverend” Al Sharpton visits The White House all of the time and the subject of his personal and business back taxes never comes up. Shit, The IRS seized Willie Nelson’s assets over his back taxes. Must be that White Privilege we keep hearing about.
They raped Redd Foxx as well, apparently they don’t come after political extortionists.
Yeah, seems like they only go after people who earn their money. Community Organizers, otherwise known as professional extortionists seem to get a pass.
Completely off topic, but yet another employee of CNN has been arrested on Chile’s sex exploitation charges. Maybe they should just change their name to Registered Sex Offender Network.
https://nypost.com/2021/12/30/second-ex-cnn-staffer-under-investigation-for-alleged-crimes-involving-minors/
Yeah, I’m sure those who engage in illegal activities are already gathering the info on their drug sales and the cash from robberies and fencing stolen property.
I borrowed a HUMVEE once on deployment.
That “Special Agent” should go on a special diet.
Triple chin tax NOW!
They only shoot from 7 meters? Must be nice qualifying.
Taking cues from the BATFE and practicing for doggos.
Be grateful they’re not practicing at long range against targets thru screen doors and holding a baby.
So the dotgov, working in concert with the illegal “Federal Reserve”, can; debase currency, spend it recklessly, craft policies to pay themselves, friends first and by doing so enrich themselves beyond rational supply of the average man, make servile the bulk of We, The American People? Yet now They want to attack any revenue that enriches us with ill-gotten gain which only differs from They because of statute or position?
Get FUCT. Anyone wanna buy some tea that didn’t quite make it into the Charles?
https://youtu.be/5apEctKwiD8
Oh, yeah. I grew up in the Bawstan area when that song came out. That song still brings back lot’sa good memories. But with all the Libtard politics that have gone on since I left (~72), as far as “Boston, you’re my home”, nah….not so much any more.
I wonder what they would have thought of the Boston Tea Party?
What percentage of his “Ten Percent” will the Big Guy have to pay? Accounting minds want to know.
IRS/FBI: Mr STSC we see you have declared 52,304.36 as earned income. Do you have anything else to declare?
STSC: Yes I have 426,043.22 from drug sales, 1,425,765 from extortion and 2,75,777 from my prostitution ring.
IRS/FBI: That’s very disturbing but thank you for your honesty.
STSC: Did I mention I’m running for Congress.
🙂
Mr. STSC,
May we recommend transferring funds with, ah, a questionable pedigree? We have the expertise to create a Political Action Committee, or PAC. This financial vehicle will greatly enhance your political ambitions and simultaneously resolve any potential funding tracing issues.
Looking Forward to Your Reply,
The Democratic Party
Thanks
While Publication 17 does list several new guidelines, the provisions above are not listed as part of them. They are further below under guidelines that have been a part of the tax code for a long time.
I was a VITA volunteer in 2010 and people tell the same jokes all the time.
I was a smart thief while working for Brink’s because I never stole anything and that’s why I never got caught.
I thought it a hoax. It’s all over the interwebs, as posted here:
Don’t forget to declare income from stolen goods and illegal activities, IRS says
Ben Popken
MSN
The public thinks all IRS agents are auditors, but their investigators are pretty sharp- I worked with them on DEA task forces. They are on the big cases, like el Chapo- OCDETF.
Gee, now the ATF needs to remind all those gang bangers to register their stolen guns.
No way.
This must be fake news.