If you made a profit through drug dealing, bribes or stolen property, the IRS says you have to list it on your income taxes.
The following is a breakdown of crimes per 100,000 people in the U.S., provided by the FBI:Internal Revenue ServiceThe IRS said individuals who earned a profit from illegal activities, such as drug dealing or bribes, must include it
n their 2021 filings. It is to be included in Schedule 1 , line 8z, or on Schedule C if from a self-employment activity.Current federal tax forms are distributed at the offices of the Internal Revenue Service on Nov. 1, 2005 in Chicago, Illinois. "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," the IRS said.
The office didn’t offer details on how it would enforce this policy, but at least one law enforcement agency is willing to help the feds with the cause.posted a cheeky PSA to Facebook offering to assist "all car thieves" report property they stole on their taxes. "If you need an itemized list of property call us at 716.858.2903 & a Deputy or Detective will be happy to meet you with the list," deputies said. "It would be our pleasure."
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