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Started By
Message
IRS to make thieves report value of stolen goods for tax purposes
Posted on 1/4/22 at 9:48 am
Posted on 1/4/22 at 9:48 am
23
Posted on 1/4/22 at 9:48 am to VolsOut4Harambe
quote:
Apparently this is real
Apparently it's been posted on this board a half dozen times in the last two weeks.
Posted on 1/4/22 at 9:49 am to VolsOut4Harambe
I've been seeing this all over the place. I don't think this is anything new and its been a way that they've gotten criminals for years when they had tough cases to prove. I know of at least one prominent drug dealer in NOLA that they could only get on tax evasion but they used that put essentially put him away for life.
Posted on 1/4/22 at 9:50 am to VolsOut4Harambe
Apparently they also do this in Deutschland.
Posted on 1/4/22 at 9:51 am to VolsOut4Harambe
This has been a thing for a long time. That's how Al Capone was taken down.
Pay your taxes. It will save you headaches in the long run.
Pay your taxes. It will save you headaches in the long run.
Posted on 1/4/22 at 9:51 am to VolsOut4Harambe
That’s always been a thing.
Technically, drug dealers’ profits are taxable, too.
Imagine a dude rolling into his CPA’s office with his quickbooks of kilo shipments.
Technically, drug dealers’ profits are taxable, too.
Imagine a dude rolling into his CPA’s office with his quickbooks of kilo shipments.
This post was edited on 1/4/22 at 9:53 am
Posted on 1/4/22 at 9:52 am to VolsOut4Harambe
On the CPA exam one of the dumbest examples the practice questions had was a drug dealer being required to report his cost of goods sold from his drug business on his schedule C 
Posted on 1/4/22 at 9:53 am to VolsOut4Harambe
having to declare illicit income has always been part of the tax code... not sure how many honest drug dealers are out there filling out 1099's but yeah...
Posted on 1/4/22 at 9:53 am to VolsOut4Harambe
Why do you think money laundering exists, boomer?
Posted on 1/4/22 at 9:53 am to VolsOut4Harambe
That’s just an effort to stack on some additional charges when they get caught. The real question is whether the victim of the crime gets to write off the value of whatever was stolen. 
Posted on 1/4/22 at 9:55 am to Spankum
Yes they can, to the extent it’s not covered by insurance and then any proceeds over the value are taxable
Posted on 1/4/22 at 9:58 am to VolsOut4Harambe
There has always been a requirement to report any bribes taken. I don't remember what pub it's in, but it's there.
Posted on 1/4/22 at 9:59 am to VolsOut4Harambe
LMAO
What a fricking clown show
What a fricking clown show
Posted on 1/4/22 at 9:59 am to VolsOut4Harambe
This has always been the case. Nothing really new. Some of the smart drug dealers actually do this.
Posted on 1/4/22 at 10:00 am to VolsOut4Harambe
I’m certain they’ll start obeying the law when the IRS is involved.
Posted on 1/4/22 at 10:00 am to VolsOut4Harambe
This has always been the case. Famously, Al Capone was put in prison for tax evasion for not reporting stolen income.
OP must be too young to remember when they busted Al Capone.
OP must be too young to remember when they busted Al Capone.
Posted on 1/4/22 at 10:05 am to Big Ole Baw
quote:
Big Ole Baw
Your job as board police is not unnoticed. Thank you for your service.
Posted on 1/4/22 at 10:10 am to VolsOut4Harambe
This has been the law for about 100 years.
Posted on 1/4/22 at 10:14 am to jclem11
quote:
This has been a thing for a long time. That's how Al Capone was taken down.
Pay your taxes. It will save you headaches in the long run.
It's like people that make moonshine. The feds don't care that you are making moonshine, they are just pissed you are not paying taxes when you sell it.
This post was edited on 1/4/22 at 10:34 am
Posted on 1/4/22 at 10:20 am to VolsOut4Harambe
I always thought the stolen goods thing was silly.
A dude stealing a tv is not going to jail for tax evasion.
Now selling stolen goods or anything and not reporting it is a different thing.
A dude stealing a tv is not going to jail for tax evasion.
Now selling stolen goods or anything and not reporting it is a different thing.
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