IRS says criminals must report their illegal earnings
It used to be said that "crime doesn't pay." We might have to retire that phrase in light of recent developments. It appears crime does now pay, especially if you are in government.
Reports state that the Internal Revenue Service, apparently with a straight face, has now declared that even criminals must report their "earnings" to the U.S. government. According to the IRS, "[i]f you steal property, you must report its fair market value in your income in the year you steal it unless you return it to its rightful owner in the same year." The agency added, "Income from illegal activities, such as money from dealing illegal drugs, must be included in your income on Schedule 1 (Form 1040), line 8z, or on Schedule C (Form 1040) if from your self-employment activity."
And this: "If you receive a bribe, include it in your income." (Unless you're in government or it's from Pfizer, of course.)
Criminals are engaged in "self-employment activity"? Apparently including — but not limited to — pimping, human-trafficking, conducting "hits" for others, turning tricks, burglary, robbery, breaking and entering, carjacking, retail theft, racketeering, embezzling, illegal gambling, and extortion. And these folks are going to report the "fair market value" of their stolen booty to the feds? Are car thieves going to use Blue Book valuations when they diligently prepare their tax returns?
It is ironic that governments, and those in them, have drastically reduced penalties for theft (and other crimes), thereby creating a climate guaranteed to increase formerly illicit behavior. Those who supposedly represent us watch as private businesses burn and stores are cleaned out by gangs of smash-and-grab thugs and see "mostly peaceful" activity. Yet if a bunch of unarmed — if misguided — citizens stroll through their Capitol Building, they wet their pants and call it an "insurrection" on the order of the Civil War.
The elites could not care less if Al's Market or Alice's Corner Store gets robbed. They don't bat an eye when your local Walgreens or Walmart gets burglarized. You see, our rulers don't think these stores need the merchandise — or have a right to their own assets.
But they think they do. And now they are using a "middle-man" to get them.
And that is a crime.
In fact, it is a Capitol offense.
It is hard to decide who is dumber: criminals themselves or the government types that think that those who commit crimes will dutifully report earnings from their illegal activities.