Did you steal a car in 2021? How about taking a bribe? If you did, the IRS says to make sure you report it on your taxes. Those provisions went viral Monday following a tweet alerting taxpayers to those somewhat surprising requirements to note the value of your ill-gotten gains. “Tax szn is around the corner,” read the tweet from @litcapital. “Remember to report your income from illegal activities and stolen property to the IRS.”
Couldn’t believe this was true when I first heard about it. But then, this is the Biden administration.