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Love the IRS

  • 22-01-2022 8:38pm
    #1
    Dhenalau
    Registered Users, Registered Users 2 Posts: 142 ✭✭


    Love the IRS 🤪

    Publication 17 (2021), Your Federal Income Tax - For Individuals - For use in preparing 2021 Returns

    https://www.irs.gov/publications/p17#en_US_2021_publink1000172116

    -----

    Illegal activities.

    Income from illegal activities, such as money from dealing illegal drugs, must be included in your income on Schedule 1 (Form 1040), line 8z, or on Schedule C (Form 1040) if from your self-employment activity.

    ...

    Stolen property.

    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.

    -----



Comments

  • #2
    dxhound2005
    Registered Users, Registered Users 2 Posts: 21,857 ✭✭✭✭dxhound2005


    That's how they got Al Capone. He was done for not reporting illegal income.



  • #3
    Gregor Samsa
    Registered Users, Registered Users 2 Posts: 9,138 ✭✭✭Gregor Samsa


    It’s like the questions on Form N-400 when applying for US Citizenship:

    Have you ever been a member of or in any way associated (either directly or indirectly) with a terrorist organization?


    Have you ever committed a crime or offense for which you were not arrested?

    No one’s going to answer “yes”, but they have a gotcha if they ever find out otherwise.



  • #4
    dxhound2005
    Registered Users, Registered Users 2 Posts: 21,857 ✭✭✭✭dxhound2005


    A cautionary tale for anyone answering those questions. Listen between 19 minutes and 28:30.

    https://www.bbc.co.uk/sounds/play/m0014nk9

    https://ie.usembassy.gov/visas/visa-waiver-program/esta-frequently-asked-questions/

    You answered a question about your eligibility to travel incorrectly and were denied authorization as a result you can contact DHS for a review of your eligibility. The U.S. Embassy cannot fix or correct any errors on your behalf.



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