It is becoming increasingly difficult to determine what is real in this world. I came across the below tweet today and thought, surely, this isn’t real.
But it is real. Today, the first day of 2022, turns out to be just as wacky for me as 2020 & 2021. Straight from the Internal Revenue Service (IRS) website, it summarizes the important tax changes that took effect in 2021 and the associated rules for filing your income. It discusses many kinds of income and explains whether they’re taxable or nontaxable. Under “Other Income,” we see that “Stolen Property” appears. But it’s not about how to report that your property was stolen, which would be any normal person’s assumption. On the contrary, it’s about how to report the property you stole as income.
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.
I’m seeing it with my own eyes and I still can’t believe this is real. But then again, the vampires at the IRS leave no blood behind.
Can you blame them? The IRS is in the game of theft themselves, so it shouldn’t be a surprise that they want a cut of your stolen loot, too!
