IRS to Thieves: Make Sure to Report Stolen Goods

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No joke, a friend was perusing Publication 17 Section 10 of the U.S. tax  code and found this little gem:

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. 

I gotta give credit to the IRS for trying to catch the dumb criminals, but somehow I’m thinking the ones with meticulous attention to detail aren’t also going to be leaning towards the stupid side.   

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One Response to “IRS to Thieves: Make Sure to Report Stolen Goods”

  1. TheDeeZone Says:

    Didn’t they get Capone on tax evasion?


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