Stolen Property
Did you think thieves are exempt from taxes? Well, think again. If you robbed a bank, embezzled money, staged a heist or received a bribe, the IRS expects you to come forward and pay taxes on the proceeds. “Income from illegal activities, such as money from dealing illegal drugs, must be included in your income,” according to the IRS.
The IRS may expect you to pay taxes on your illegal income but in reality, few criminals report their fraudulently obtained gains on their tax returns. However, if you get caught, the list of charges will simply become longer. Does the name Al Capone ring any bells? The notorious gangster never filled a tax return and ended up serving eleven years for tax evasion.
