{"id":121149,"date":"2021-12-30T10:47:43","date_gmt":"2021-12-30T15:47:43","guid":{"rendered":"https:\/\/valorguardians.com\/blog\/?p=121149"},"modified":"2021-12-30T10:47:43","modified_gmt":"2021-12-30T15:47:43","slug":"irs-reminds-people-to-report-illegal-income-and-gains-from-property-youve-stolen","status":"publish","type":"post","link":"https:\/\/www.azuse.cloud\/?p=121149","title":{"rendered":"IRS reminds people to report illegal income and gains from property you&#8217;ve stolen"},"content":{"rendered":"<p><a href=\"https:\/\/www.azuse.cloud\/wp-content\/uploads\/2018\/12\/irs-swat.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-83826\" src=\"https:\/\/www.azuse.cloud\/wp-content\/uploads\/2018\/12\/irs-swat.jpg\" alt=\"\" width=\"474\" height=\"266\" srcset=\"https:\/\/www.azuse.cloud\/wp-content\/uploads\/2018\/12\/irs-swat.jpg 474w, https:\/\/www.azuse.cloud\/wp-content\/uploads\/2018\/12\/irs-swat-300x168.jpg 300w\" sizes=\"auto, (max-width: 474px) 100vw, 474px\" \/><\/a><\/p>\n<p>We&#8217;re mere days away from the start of the 2021 fiscal year tax season. As such, the Internal Revenue Service has released <a href=\"https:\/\/www.irs.gov\/publications\/p17\" target=\"_blank\" rel=\"noopener noreferrer\">their latest guides<\/a> to help you navigate the obscenely and needlessly complicated tax system. Here are some of the reminders;<\/p>\n<blockquote>\n<ul>\n<li>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.<\/li>\n<li>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.<\/li>\n<li>Bribes. If you receive a bribe, include it in your income. (They also note that &#8220;Illegal bribes and kickbacks&#8221; are on the list of nondeductible expenses)<\/li>\n<\/ul>\n<\/blockquote>\n<p>To the IRS, we thank you for your service. \/s<\/p>\n","protected":false},"excerpt":{"rendered":"<p>We&#8217;re mere days away from the start of the 2021 fiscal year tax season. As such, &hellip; <a title=\"IRS reminds people to report illegal income and gains from property you&#8217;ve stolen\" class=\"hm-read-more\" href=\"https:\/\/www.azuse.cloud\/?p=121149\"><span class=\"screen-reader-text\">IRS reminds people to report illegal income and gains from property you&#8217;ve stolen<\/span>Read more<\/a><\/p>\n","protected":false},"author":664,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[213,238],"tags":[],"class_list":["post-121149","post","type-post","status-publish","format-standard","hentry","category-your-tax-dollars-at-work","category-government-incompetence"],"_links":{"self":[{"href":"https:\/\/www.azuse.cloud\/index.php?rest_route=\/wp\/v2\/posts\/121149","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.azuse.cloud\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.azuse.cloud\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.azuse.cloud\/index.php?rest_route=\/wp\/v2\/users\/664"}],"replies":[{"embeddable":true,"href":"https:\/\/www.azuse.cloud\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=121149"}],"version-history":[{"count":1,"href":"https:\/\/www.azuse.cloud\/index.php?rest_route=\/wp\/v2\/posts\/121149\/revisions"}],"predecessor-version":[{"id":121150,"href":"https:\/\/www.azuse.cloud\/index.php?rest_route=\/wp\/v2\/posts\/121149\/revisions\/121150"}],"wp:attachment":[{"href":"https:\/\/www.azuse.cloud\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=121149"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.azuse.cloud\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=121149"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.azuse.cloud\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=121149"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}