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Message
re: IRS to make thieves report value of stolen goods for tax purposes
Posted on 1/4/22 at 10:46 am to dgnx6
Posted on 1/4/22 at 10:46 am to dgnx6
quote:
A dude stealing a tv is not going to jail for tax evasion.
It is still considered income.
You have to report all your income, even if you don't have a 1099 or other document that is reported to the IRS.
0
Posted on 1/4/22 at 11:08 am to VolsOut4Harambe
This is one way for the feds to be able to go after someone if they feel the state's sentence was too lenient. Drug dealer got a favorable plea deal from the state prosecution, then the IRS can come in and get them with a federal tax evasion charge
Posted on 1/4/22 at 11:50 am to VolsOut4Harambe
My brother was an accountant for JPSO, and after busts/raids, he would assess how much the criminals made, then submit a report on how much was owed based on profits. Double whammy!??
Posted on 1/4/22 at 12:50 pm to jclem11
quote:
Pay your taxes. It will save you headaches in the long run.
Meh. If someone pays taxes from their regular job but has a side gig making an extra $100 per week under the table, I don't expect them to pay any taxes.
Posted on 1/4/22 at 1:20 pm to VolsOut4Harambe
Every few years, a social media intern at the IRS realizes this and makes a couple of posts and the media runs with it because it's "interesting" to discuss this time of year.
Posted on 1/4/22 at 2:09 pm to cheobode
quote:
Meh. If someone pays taxes from their regular job but has a side gig making an extra $100 per week under the table, I don't expect them to pay any taxes.
Good luck if you get picked for a random audit chief.
If you do, you have to explain every single deposit and if you cannot, it is considered income.
Your $5,000 from your side gig is income and you must declare it.
Posted on 1/4/22 at 2:38 pm to VolsOut4Harambe
So politicians will have to pay all of their taxes?
Awesome!
Awesome!
Posted on 1/4/22 at 2:48 pm to jclem11
quote:
Good luck if you get picked for a random audit chief.
If you do, you have to explain every single deposit and if you cannot, it is considered income.
Your $5,000 from your side gig is income and you must declare it.
Just...don't deposit the money. If you use it for a bill, get a money order. $5k not being claimed on taxes isn't going to hurt anyone.
Posted on 1/4/22 at 3:11 pm to VolsOut4Harambe
Al Capone would like to remind you that this has always been the law.
Posted on 1/4/22 at 3:14 pm to cheobode
quote:
. $5k not being claimed on taxes isn't going to hurt anyone.
Well that's just false
Posted on 1/4/22 at 3:39 pm to Nicky Parrish
quote:
So politicians will have to pay all of their taxes? Awesome!
Of course not. Politicians and their ilk do things every day they’d throw you underneath the jail for
Posted on 1/4/22 at 3:40 pm to Big Ole Baw
I'm sure the $100 for state and federal is going to make a huge difference!
Posted on 1/4/22 at 3:45 pm to cheobode
quote:
I'm sure the $100 for state and federal is going to make a huge difference!
You must not be familiar with the term "penalties and interest"
Posted on 1/4/22 at 3:50 pm to Big Ole Baw
quote:
You must not be familiar with the term "penalties and interest"
Again, how is anyone going to know if you work extra for cash and don't deposit any of it? I'm not saying it's "right". I made an extra $1,500 one year upgrading and troubleshooting computers but as soon as the cash entered my hand, it went straight to gas, food, or diapers. The hassle to claim $1,500 on my income tax return wasn't even worth it.
Posted on 1/4/22 at 3:51 pm to ProjectP2294
quote:
There has always been a requirement to report any bribes taken. I don't remember what pub it's in, but it's there.
I believe one of the big oil and gas companies once had to do a disclosure for a big bribe paid to an African Warlord.
Posted on 1/4/22 at 3:53 pm to cheobode
The government doesn’t have any right to your labor and they know it, but they have little goons to comb through the books and go after little people who make a some more on the side while the politicians and mega rich make millions and somehow get to avoid them.
Posted on 1/4/22 at 3:56 pm to fr33manator
quote:
The government doesn’t have any right to your labor and they know it, but they have little goons to comb through the books and go after little people who make a some more on the side while the politicians and mega rich make millions and somehow get to avoid them.
If I only made $5k in income, I wouldn't have to report it. But since I have a job, that I already pay taxes on, anything extra the IRS wants a piece of it.
Posted on 1/4/22 at 4:01 pm to cheobode
quote:
If I only made $5k in income, I wouldn't have to report it. But since I have a job, that I already pay taxes on, anything extra the IRS wants a piece of it.
Yes, that is how a progressive tax system works.
Posted on 1/4/22 at 4:03 pm to cheobode
quote:
Again, how is anyone going to know if you work extra for cash and don't deposit any of it?
They won't
Posted on 1/4/22 at 4:03 pm to cheobode
quote:
Again, how is anyone going to know if you work extra for cash and don't deposit any of it? I'm not saying it's "right". I made an extra $1,500 one year upgrading and troubleshooting computers but as soon as the cash entered my hand, it went straight to gas, food, or diapers. The hassle to claim $1,500 on my income tax return wasn't even worth it.
If it's straight cash (and even if it's not) you most likely aren't going to get caught.
But when you start thinking "oh its only $5k" and then get a $10k plus tax bill, that would suck.
Your philosophic views on the tax system is completely different.
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