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IRS Asks Drug Dealers and Thieves to Report Stolen Property and Illegal Earnings on Taxes

When I first saw this, I thought to myself that this couldn’t be real. The IRS is not serious…are they?

Well, lo and behold, they are serious about getting their money no matter what.

The IRS actually has it written into their tax code guidelines that if you make money from illegal activities, you are required to report it to the IRS and pay taxes on that income.

“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.”

The same goes if you have stolen property. Big Brother wants you to report the value of any stolen goods so that they can tax your for that as well.

“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.”

This is the equivalent of telling a criminal who is planning to rob a bank not to bring a firearm inside because they’re prohibited.

There is a basic and fundamental principle that liberals (and I promise you that liberals wrote this code) seem to constantly forget. They do not obey the law!

If they’re such low-lives that they are willing to steal and sell drugs, which is illegal, why on earth would they report that money so they would be forced to give some to the government while at the same time admitting to the federal government that they are making money illegally? That is just plain stupid.

This actually comes from an old law that was actually used to nail down Al Capone and convict him for tax evasion in the 1930s. I don’t think many people are going to be dumb enough to report this money, but I’m sure that there will be a couple.

Photo Credit: 401K

The post IRS Asks Drug Dealers and Thieves to Report Stolen Property and Illegal Earnings on Taxes appeared first on Freedom Headlines.

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