It's Tax Season Again- IRS is Reminding Criminals to Report the Value of Stolen Property As Taxable Income

[johngaltshrugged]

Man, it's a good thing the IRS sent out this reminder otherwise I would completely forget to report the market value of my stolen property & proceeds from drug trafficking while filing my taxes.
That was close, I might have done something illegal & the last thing I would ever do is break the law on purpose.
Mr. Law & order, that's me!

Is Zelensky exempt?

You can never go broke underestimating the stupidity of govt rules, regs & policies but you can vote for Dems & double down on it.

I wonder if they have a whole hidden section for the Biden Crime Family?
The entire UNiparty at least deserves mention in there somewhere.

Hunter has a hypothetical:
Suppose "someone" raped an underage Chinese sex slave girl but it was free to him- is this considered a gift from the CCP & does he have to estimate the value based on going rates of the crack whores he frequents?

BEYOND PARODY: The IRS Reminds Thieves That They Have to Pay Taxes on Stolen Property | The Gateway Pundit | by Mike LaChance

The Internal Revenue Service is now reminding thieves that they must report income gained through their crimes.

www.thegatewaypundit.com

 

[rightwinger]

That is what Al Capone went to prison for

 

[johngaltshrugged]

That is what Al Capone went to prison for

Exactly.
I'm sure if Al Capone had simply reported his bootlegging, extortion, racketeering, loan sharking & prostitution profits to the IRS, the govt would've had no problem with him.

I wonder if the profits for illegal activities all go under the same section?
Do prostitutes go under a different section than extortion?
Did Hunter have to report his underage Chinese sex slaves even if he raped them for free in China?
It's a good thing they are vastly expanding the IRS & even training/arming them to go after the Al Capones but never the Avg Joes

 

[d0gbreath]

All of this has been in the tax forms for like forever. It's not something new.

 

[RoshawnMarkwees]

All of this has been in the tax forms for like forever. It's not something new.

You sound experienced.

 

[d0gbreath]

You sound experienced.

I was a sole proprietor when I was in my twenties. I've read a multitude of tax forms and instructions that you've probably never even seen.

 

[RoshawnMarkwees]

I was a sole proprietor when I was in my twenties. I've read a multitude of tax forms and instructions that you've probably never even seen.

No doubt. I was just making a joke at your expense.

 

[easyt65]

WTF?!


Does this apply to Hunter and the 'Big Guy' and all the Democrats ... and McConnell ... who took millions from the illegal 'For Ukraine' FTX Ponzi Scheme?


.

 

[SassyIrishLass]

View attachment 764774

WTF?!


Does this apply to Hunter and the 'Big Guy' and all the Democrats ... and McConnell ... who took millions from the illegal 'For Ukraine' FTX Ponzi Scheme?


.

Criminals will get right on that

 

[johnwk]

In regard to income from illegal activities being taxable by the feds, that happens to be true. But, studying this aspect of federal taxation reveals some interesting facts which wage earners need to learn.

According to our Supreme Court ___ EISNER v. MACOMBER , 252 U.S. 189 (1920) ___ all money that comes in is not “income” within the meaning of the 16th Amendment. Income is the gain or profit “severed from the capital, however invested or employed, and coming in.”

Now, let us keep in mind a working person, unlike those who invest money as their “capital”, the working person invests the capital, or property, each has in their own labor, i.e., eight hours of their life which they surrender daily to their employer, the actual sweat and labor provided during working hours, their skills and education are all part of the “investment” made by our laboring class, and according to the Court, it would appear the value of such “capital” or property invested must be severed from money coming in, in order to arrive at the calculated profit and or gain which may then be taxed.

It should also be noted that the income from a business which is wholly illegal was held subject to income tax in United States v. Sullivan, 274 U.S. 259. Nevertheless, it was necessary to determine what that income was, and the cost of an illegal purchase of liquor was subtracted from proceeds of the illegal sale of the liquor in order to arrive at the gain from the illegal transaction which were subjected to income tax in that case.

And, in Sullenger vs. Commissioner, the Court allowed the business owner [who made illegal purchases of meat] to deduct the cost of meat purchased at a higher price then set by the Office of Price Administration, a World War II price control agency, which he then resold for profit. The “income” from those sales was being taxed which was at issue in the case. The Court went on to cite Sullivan and concluded: “No authority has been cited for denying to this taxpayer the cost of goods sold in computing his profit, which profit alone is gross income for income tax purposes.”

The point being, even crooks engaged in illegal and criminal activities are to deduct their outlays and expenses in computing a “profit” which may then be taxed.

So, with regard to the comment that we often hear, “Wages are not income”, and taking into account what our courts have emphatically stated regarding how profit and or gain is calculated in order to arrive at taxable income, one thing seems to be irrefutable . . . all money coming in to a wage earner when investing the property each has in their own labor cannot be reasonably said to be income within the meaning of the 16th Amendment.

Are we not to apply the same rules to a wage earner in calculating an alleged profit and or gain from their “investment”, as we do with those who invest money as their capital in order to realize a gain or profit which is then asserted to be subject to federal taxation?

And let us not forget the very intention of those who promoted the 16th Amendment was . . . “An income tax seeks to reach the unearned wealth of the country and to make it pay its share.” Congressional Record, July 12th, 1909, page 4420, Mr. HEFLIN

Are we to ignore the intended distinction between earned wages and un-earned “incomes” within the meaning of the 16th Amendment?

The bottom line is, the comment that “Wages are not income” ___ assuming it was made in respect of the 16th Amendment and calculating a federal tax ___ seems to have significant merit in my opinion as the “capital” or property invested must be severed from money coming in, in order to arrive at a calculated profit and or gain which may then be taxed. And that is according to the Court.

So, the question seems to present itself . . . what portion of a working person’s earned wage, if any, is considered a profit and or gain within the meaning of “incomes” as the word appears in the 16th amendment?

Additionally, if a federal tax on a working person’s earned wage is a direct tax within the meaning of our Constitution, and it is levied without being apportioned, would it not then violate our Constitution’s protective rule that:

"No Capitation, or other direct, Tax shall be laid, unless in Proportion to the Census or Enumeration herein before directed to be taken."

JWK

“If the Constitution was ratified under the belief, sedulously propagated on all sides that such protection was afforded, would it not now be a fraud upon the whole people to give a different construction to its powers?”___ Justice Story

 

[Independentthinker]

Man, it's a good thing the IRS sent out this reminder otherwise I would completely forget to report the market value of my stolen property & proceeds from drug trafficking while filing my taxes.
That was close, I might have done something illegal & the last thing I would ever do is break the law on purpose.
Mr. Law & order, that's me!

Is Zelensky exempt?

You can never go broke underestimating the stupidity of govt rules, regs & policies but you can vote for Dems & double down on it.

I wonder if they have a whole hidden section for the Biden Crime Family?
The entire UNiparty at least deserves mention in there somewhere.

Hunter has a hypothetical:
Suppose "someone" raped an underage Chinese sex slave girl but it was free to him- is this considered a gift from the CCP & does he have to estimate the value based on going rates of the crack whores he frequents?

BEYOND PARODY: The IRS Reminds Thieves That They Have to Pay Taxes on Stolen Property | The Gateway Pundit | by Mike LaChance

The Internal Revenue Service is now reminding thieves that they must report income gained through their crimes.

www.thegatewaypundit.com

There's nothing worse than a dishonest criminal.