Take this as a warning – if you participated in any shady business last year, the IRS is still expecting their “fair” share.
According to an article on MSN Money this morning, regardless of how you got your cash, you still have to fork some over to the Government (hey – someone’s got to pay for the 2008 bailouts).
Included under this umbrella of illegal activity are profits from drug dealing, theft and accepting bribes. In fact, they even spell out where to report your illegal income on your tax forms:
”Illegal income, such as money from dealing illegal drugs, must be included in your income on Form 1040, line 21, or on Schedule C or Schedule C-EZ (Form 1040) if from your self-employment activity.”
If you don’t report it and they find out, you’ll most likely find yourself as someone's prison bitch for the next 8-10 years. It’s a beautiful catch 22, really. Who knows, maybe there’s a chance you could bribe the IRS not to let law enforcement in on your little side dealings. Just kidding - we all know the IRS is always on the up and up.
The bottom line is the IRS doesn’t care where the funds come from as long as they can get their grubby little hands on it so all you dirty bastards out there, be forewarned.
So what do you do? -I work for an investment banking firm. Oh okay; you are like my brother, he works for Edward Jones. -No, a college degree is required in my profession
thats why i take all my illegal compensation in the form of beer. heck, thats where all the money is going anyways.
We're about to enter a Great Depression. Don't you want a president who's already dressed for it?
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