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Stole Something? IRS Says Stolen Property and Bribes Must Be Reported as Income

December 29, 2021 by Staff

(USA TODAY) 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.”

The requirements can be found at IRS.gov amid other missives to report income earned from jobs in the gig economy and what to do about taxable alimony payments. 

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Filed Under: U.S.

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