Funnily enough, the IRS DOES tax stolen and/or laundered income.
"Income from illegal activities, such as money from dealing illegal drugs, must be included in your income on Form 1040, line 21, or on Schedule C or Schedule C-EZ (Form 1040) if from your self-employment activity."
People who suspect they're about to be audited and/or arrested and who have made money illegally (such as embezzlement) will sometimes list illegal income to not add on more prison time for tax evasion if they're found guilty.
Remember that Al Capone didn't get put in prison for selling booze during Prohibition or ordering his goons to kill people and such. It was for not paying tax on the money he earned illegally.
This concludes the "Useless trivia no one asked for or cares about" segment of our entertainment tonight.
Only that much?
That they know of think of the 50 years he’s been in politics please it’s in the millions...
Exactly.
I don't think they tax stolen or laundered income.
Funnily enough, the IRS DOES tax stolen and/or laundered income.
"Income from illegal activities, such as money from dealing illegal drugs, must be included in your income on Form 1040, line 21, or on Schedule C or Schedule C-EZ (Form 1040) if from your self-employment activity."
People who suspect they're about to be audited and/or arrested and who have made money illegally (such as embezzlement) will sometimes list illegal income to not add on more prison time for tax evasion if they're found guilty.
Remember that Al Capone didn't get put in prison for selling booze during Prohibition or ordering his goons to kill people and such. It was for not paying tax on the money he earned illegally.
This concludes the "Useless trivia no one asked for or cares about" segment of our entertainment tonight.