The Internal Revenue Service wants Americans to be very honest this tax season by reporting all stolen property and drug sales as income.
Steal any property or deal any drugs this year? Well, the IRS wants it reported as taxable income.
The Internal Revenue Service is reminding Americans that they must report all of their hard-earned income to be taxed, even if it is the result of criminal activity, according to the bureau’s updated“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 IRSThe agency also reminded those who’ve pocketed any by cash selling narcotics — or through any number of unspecified “illegal...
“Income from illegal activities, such as money from dealing illegal drugs, must be included in your income on Schedule 1 , line 8z, or on Schedule C if from your self-employment activity,” the bureau said.Bloomberg via Getty Images The IRS did not say whether career thieves could deduct work expenses such as ski masks, crowbars and getaway vans on their tax forms.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
Don't Forget to Declare Income From Stolen Goods and Illegal Activities, IRS SaysIn practice, it’s rare for those who break the law to then turn around and dutifully log their ill-gotten gains for the government to review. But there are exceptions.
Consulte Mais informação »
Don't Forget to Declare Income From Stolen Goods and Illegal Activities, IRS SaysIn practice, it’s rare for those who break the law to then turn around and dutifully log their ill-gotten gains for the government to review. But there are exceptions.
Consulte Mais informação »
IRS says income from stolen goods and illegal activities must be reported on taxesThe Internal Revenue Service says that income from stolen goods or other illegal activities must be reported when Americans file their taxes.
Consulte Mais informação »
Income from illegal activities, stolen property must be reported on taxes, IRS saysAccording to the Internal Revenue Service (IRS), income earned from criminal behavior must be declared on your taxes.
Consulte Mais informação »
WarnerMedia-Discovery deal: AT&T gets favorable IRS rulingAT&T said it received a “favorable” ruling from the IRS, signaling that the deal to combine WarnerMedia with Discovery would be tax -free for shareholders.
Consulte Mais informação »
Stolen property, income from illegal activities must be reported on taxes, IRS saysIf you made a profit through drug dealing, bribes or stolen property, the IRS says you have to list it on your income taxes.
Consulte Mais informação »