Look at the Top Center Column below. It might be too small. I’ll peck it out for you...
“Stolen Property. If 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.”
Yes, My Dear Readers, the IRS actually tells us we must report what we steal.
Can’t you just hear Al Capone saying, “Yo, Vito, before New Year’s Eve remind me to return that money I stole last week from the Poor Box at Church. I wanna save on my taxes.”
What it does not tell you is that 20 minutes after the IRS receives your tax return you will be placed under arrest. You will charged with stealing and you will be charged with being stupid enough to tell the IRS that you stole.
Would I kid u?
Smartfella
