The IRS is more thorough than I thought…

Amusing bits from IRS Publication 525, Taxable and Nontaxable Income, Other Income:

> Bribes. If you receive a bribe, include it in your income. > > Found property. If you find and keep property that does not belong to you that has been lost or abandoned (treasure-trove), it is taxable to you at its fair market value in the first year it is your undisputed possession. > > Illegal income. Illegal income, 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. > > Kickbacks. You must include kickbacks, side commissions, push money, or similar payments you receive in your income on Form 1040, line 21, or on Schedule C or Schedule C-EZ (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 in the same year, you return it to its rightful owner.

For all those honest criminals out there. ;)

(via Jacqueline)

1 Trackbacks

  1. By Musings of a Chicagoan on June 4, 2005 at 9:09 am

    We don’t care if you stole it, we just want our fair share …

    Wow, the IRS really does think of everything! From IRS Publication 525, Taxable and Nontaxable Income, Other Income: Bribes. If you receive a bribe, include it in your income. Found property. If you find and keep property that does not…

3 Comments

  1. I keep hoping this is a joke, but that’s actually the IRS website. At least it makes it easier for the all the New Jersey mayors that weren’t sure what line to put the grift on.

    Posted June 7, 2005 at 9:22 am | Permalink | Reply
  2. I keep hoping this is a joke, but that’s actually the IRS website. At least it makes it easier for the all the New Jersey mayors that weren’t sure what line to put the graft on.

    Posted June 7, 2005 at 9:23 am | Permalink | Reply
  3. Whoops - you can delete that first comment. I tried to stop it from posting once I realize I had written grift instead of graft.

    Posted June 7, 2005 at 9:27 am | Permalink | Reply

Post a Comment

Your email is never shared. Required fields are marked *

*
*

Note: This post is over 5 years old. You may want to check later in this blog to see if there is new information relevant to your comment.