Posted in

IRS reminds people to report illegal income and gains from property you’ve stolen

by Mason••23

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

You might also like

Is This a Gotcha Moment?

Wednesday legalities

Happy New Year! Bring Out Yer Guns!

23 thoughts on “IRS reminds people to report illegal income and gains from property you’ve stolen”

    1. 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.

      1. They raped Redd Foxx as well, apparently they don’t come after political extortionists.

  2. 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.

        1. 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.

  4. 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

    1. 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.

  5. I wonder what they would have thought of the Boston Tea Party?

  7. 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.

    🙂

    1. 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

  8. 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.

  10. 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

  11. 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.

Comments are closed.