Those new IRS agents may be busy

[Thinker101]

According to IRS Publication 525, taxpayers are legally required to report the value of whatever property they stole during the tax year.

"If you steal property, you must report its FMV (Fair Market Value) in your income in the year you steal it, unless in the same year you return it to its rightful owner," the rule reads.

The same rule applies to bribery, drug deals and other income-earning crimes.

Twitter users erupt at IRS's calls for thieves to report stolen income: 'Good to know'

 

[SassyIrishLass]

Lol

 

[themirrorthief]

According to IRS Publication 525, taxpayers are legally required to report the value of whatever property they stole during the tax year.

"If you steal property, you must report its FMV (Fair Market Value) in your income in the year you steal it, unless in the same year you return it to its rightful owner," the rule reads.

The same rule applies to bribery, drug deals and other income-earning crimes.

Twitter users erupt at IRS's calls for thieves to report stolen income: 'Good to know'

they will never get me, Hunter biden pays me with chinese cash...im untouchable

 

[BluesLegend]

LMAO

 

[toobfreak]

Lol

I hope this rule also applies to the government because they have been stealing off of people left and right like bandits.

 

[excalibur]

Fifth Amendment problem. You cannot be compelled to be a witness against yourself.

There is a special provision for bookies to report their income but it cannot be used against them. This came out of a ruling in a Supreme Court case.

The concern is that the information could be used against the bookmaker in a non-tax criminal proceeding. The IRS recognizes the concerns of illegal bookmakers and in order to entice them to comply, the IRS claims it will not share the information it receives with any law enforcement agencies, other than for tax purposes.​

Are You Feeling Lucky? IRS Taxes on Wagers and Bookmakers

These days it seems like the government taxes everything it can. While it is debatable whether or not that is true, there are a number of "hidden" taxes of which many taxpayers are unaware. Taxes on wagers and occupational taxes on bookmakers are a couple of those "hidden" taxes. Although the...

www.meadowscollier.com

 

[two_iron]

Does it count if you steal it from the US taxpayers through the Ukraine money laundering operation?

Asking for the productive half of a nation.

 

[g5000]

According to IRS Publication 525, taxpayers are legally required to report the value of whatever property they stole during the tax year.

"If you steal property, you must report its FMV (Fair Market Value) in your income in the year you steal it, unless in the same year you return it to its rightful owner," the rule reads.

The same rule applies to bribery, drug deals and other income-earning crimes.

Twitter users erupt at IRS's calls for thieves to report stolen income: 'Good to know'

How much are stolen Top Secret documents worth?

 

[Natural Citizen]

 

[Thinker101]

This could get a bit tricky; California says if a single theft is under $950 it's not a crime. So does that mean it doesn't need to be reported?

 

[Care4all]

Does it count if you steal it from the US taxpayers through the Ukraine money laundering operation?

Asking for the productive half of a nation.

 

[Independentthinker]

According to IRS Publication 525, taxpayers are legally required to report the value of whatever property they stole during the tax year.

"If you steal property, you must report its FMV (Fair Market Value) in your income in the year you steal it, unless in the same year you return it to its rightful owner," the rule reads.

The same rule applies to bribery, drug deals and other income-earning crimes.

Twitter users erupt at IRS's calls for thieves to report stolen income: 'Good to know'

Crooks should be forced to be honest about what they steal and how much it was worth. There's nothing worse than a dishonest criminal. But, with 50% of Americans paying zero in federal income tax they probably won't have to pay any federal income taxes on it anyway. The rich need to pay their fair share. LOL.

 

[g5000]

Does it count if you steal it from the US taxpayers through the Ukraine money laundering operation?

Asking for the productive half of a nation.

Wow. There are still idiots parroting that hoax?!?

 

[Ralph Norton]

How much are stolen Top Secret documents worth?

Good job with the relevant comment.

 

[g5000]

Good job with the relevant comment.

Hey, they must be worth MILLIONS! That should be reported to the IRS.