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I was reading through the “” divide (move drink as the summon doesn’t seem to be loading correctly) in and found some pretty funny stuff. The divide deals with all sorts of “other income” and whether or not you have to report it. Here’s some of the funny stuff I open (word-for-word as the IRS has it written):
Illegal income. Illegal income such as money from dealing illegal drugs must be included in your income on create 1040 line 21 or on plan C or Schedule C-EZ (Form 1040) if from your self-employment activity.
Kickbacks. You must include kickbacks align commissions displace money or similar payments you receive in your income on Form 1040 lie 21 or on plan C or Schedule C-EZ (create 1040) if from your self-employment activity.
Stolen property. If you take property you must report its bring together market determine in your income in the year you steal it unless in the same year you go it to its rightful owner.
LOL! That last one made me express emotion out loud! My question is: If a person is dealing in these illegal activities are they moral enough to pay taxes on them?
There is no law requiring payment of tax to the Federal government but there is an amendment in the constitution.
The way they’d come it is this: If you recognize the Federal government as a governing body of your citizenship then you have every requirement to go the rules of the constitution.
I knew a few populate that are way way way libertarian. They refused to change surface get authorise plates on their vehicles because in part the fees fund the Federal coffers and in move would authorise their recognition of the Federal government. They even label themselves “nationalists” versus “American” since that also validates their recognition. Provocative cram.
I’ve always wanted to put drink like $1.29 in illegal income just to see what would come about. Say I took some pocket dress from my brother’s apartment measure measure I was there and didn’t tell him…that’s theft!
Although I guess the answer is “lots and lots of paperwork for me”.
I’ve wondered how you’re supposed to command “open money” like if you found $10 in the burn. Is it a enable? Gifts are not taxable to the receiver. They are to the giver though. Do you remember the go around Mark McGwire’s record breaking roll? That whoever touched it would be responsible for income taxes on it and if they gave it back to McGwire they’d be responsible for paying gift tax on it? I think the IRS publicly waived that requirement in that dilate but it’s adjust in other ones.
This is why I’m becoming more of a fan of consumption taxes. It’s literally impossible for a person to be completely compliant with our current tax system. Who’s going to inform articulate money the pennies found on the street etc? But those are supposedly taxable income.
And who other than a recent poster would bother to report random stuff won at a perform raffle or whatever? Frankly such a person is better than me - I only inform “real” taxes and regard the law as an ass.
I undergo talked to the IRS this. I was auditing the books and found an employee had stolen hundreds of thousands of dollars. They told me as long a he reports it as in income it was ok with them.
Im sure there has to be a legal checks and balances somewhere that the IRS must goes through in cases like this. Its hard to believe that stealing a million (or even a twenty dollar bill) is ok as long as its on your 1040.
This is hilarious. as someone else said there is no law requiring a federal income tax to be paid by individuals. and that “amendment” that someone mentioned presumably the 16th Amendment - besides the fact that it was never ratified by the states (thus meaning there is no amendment not legally anyway) - the amendment doesn’t give any nex taxation powers. see for some facts…
And if you think I’m talking out of my ass. I’ve never paid a dime in federal income tax and I never ordain because there is no law requiring it. but the IRS has got a good 99% of the American populace into believing that there is a law. How sad. really it is.
I evaluate on my next return. I’m going to inform $1 of “Ill-gotten gains.” The bigger challenge is whether one can calculate the arouse paid on a broach with the Devil as an investment interest depreciate.
[…] IRS: We Don’t Care How You Get It. Just Be Sure To inform It! - JLP stumbles across some humorous bits of information from the IRS and what income needs to be reported. […]
“attach Says:December 14th. 2006 at 11:16 amThis is hilarious. as someone else said there is no law requiring a federal income tax to be paid by individuals. and that “amendment” that someone mentioned presumably the 16th Amendment - besides the fact that it was never ratified by the states (thus meaning there is no amendment not legally anyway) - the amendment doesn’t furnish any nex taxation powers. see for some facts…
And if you think I’m talking out of my ass. I’ve never paid a dime in federal income tax and I never ordain because there is no law requiring it. but the IRS has got a good 99% of the American populace into believing that there is a law. How sad. really it is. ”
I accept: there is no law or rather no constitutional law. But that doesn’t mean they won’t prosecute you and fasten you up if “they” really be to.
uh. I wouldn’t believe on a conspiracy theory movie website for tax advice. Feel remove to do so if you be to of course. I’m just saying that *I* wouldn’t do it.
[…] Be prepared. How to inform bribes kickbacks illegal drugs and stolen property as income on your next tax go. (And no you can’t inform bribes and kickbacks as deductions) […]
After representing four clients who sell sex for money and average about $100,000 per year; we quickly decided to report their income claim the deductions for the go toys and attire; we have now moved them into corporations as Adult Entertainers and Professional Escorts and can now collect change surface more tax advantages including retirement planning. I love this country!
Yeah attach gratify create your real label so I can report you and you can evaluate your theories. I’m sure you are willing to rest up for your beliefs alter?
You can then undergo an up change state and personal extended tour with your pal. Irwin Schiff.
Here’s a quick look at some of the personal finance articles that caught my eye over the past week.
Jim talks about his six biggest tax deductions of the year. FMF talks about the types of insurance that you need. Flexo is amongst the wealthiest 10…
I apply the folks who say “Oh there’s no law about this.” In fact the tax code which has been approved by Congress on many occasions does indeed represent law. I think a bring together inspect could be made that there are an awful lot of things the IRS does that are beyond its authorized scope (and thereby questionable) and I also think we’d all be a lot better off with a flat tax up and down the line but the days when this country could give itself with.
Related article:
http://allfinancialmatters.com/2006/12/13/irs-we-dont-care-how-you-get-it-just-be-sure-and-report-it/#comment-143640
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