Log In

Your email is not your username

Register

If you were a member of the old Bodybuilding.com forums and would like to reuse your previous username, you can request it below. We use your email only for registration and do not store it. For more information, please see our Privacy Policy.

Confirm your email

A registration code was sent to your email. Enter it here.

Welcome

You have successfully setup your account.

Sign in

Quick Navigation Bottom Misc
Forum » IRS's calls for thieves to report stolen income
  1. Results 1 to 25 of 25
  2. Page 1 of 1

Thread: IRS's calls for thieves to report stolen income

post 1678673783 03-09-2023, 09:42 PM
-
#1
  1. NKWulf
  2. Retired
  1. NKWulf
  2. Retired
  3. Join Date: Mar 2005
  4. Location: New York, United States
  5. Age: 52
  6. Posts: 25,186
  7. Rep Power: 148179

IRS's calls for thieves to report stolen income

https://www.foxbusiness.com/financia...come-good-know

According to IRS Publication 525, taxpayers are legally required to report the value of whatever property they stole during the tax year.

"If you steal property, you must report its FMV (Fair Market Value) in your income in the year you steal it, unless in the same year you return it to its rightful owner," the rule reads.

The same rule applies to bribery, drug deals and other income-earning crimes.
post 1678674093 03-09-2023, 09:48 PM
-
#2
  1. Zelensky
  2. GOAT miscer
  1. Zelensky
  2. GOAT miscer
  3. Join Date: Dec 2022
  4. Posts: 13,915
  5. Rep Power: 166374
OK then the IRS needs to report 100% of their income as its all stolen
post 1678676073 03-09-2023, 10:50 PM
-
#3
  1. Leonydus
  2. Registered User
  1. Leonydus
  2. Registered User
  3. Join Date: Sep 2007
  4. Location: North Carolina, United States
  5. Posts: 23,260
  6. Rep Power: 156188
this cant be real
post 1678680433 03-10-2023, 03:02 AM
-
#4
  1. Jasonw1178
  2. 5'3" 300lbs Fudge Rounds
  1. Jasonw1178
  2. 5'3" 300lbs Fudge Rounds
  3. Join Date: Dec 2012
  4. Posts: 44,104
  5. Rep Power: 271274
Originally Posted By Zelensky⏩
OK then the IRS needs to report 100% of their income as its all stolen
This.
post 1678681303 03-10-2023, 03:39 AM
-
#5
  1. Evolutionary1
  2. Registered User
  1. Evolutionary1
  2. Registered User
  3. Join Date: Jul 2006
  4. Location: United States
  5. Posts: 36,489
  6. Rep Power: 115290
Just like when the government reports all the money it's lost or blown
post 1678684253 03-10-2023, 05:20 AM
-
#6
  1. nkiritsis13
  2. [_]Living [X]Living Dead
  1. nkiritsis13
  2. [_]Living [X]Living Dead
  3. Join Date: Apr 2010
  4. Location: Rochester, Michigan, United States
  5. Posts: 8,312
  6. Rep Power: 331479
What happens when a thief reports their stolen income?

IRS: "Thank you, be sure to steal again!"

No cuffs, no inquiries, and not even a long scientific evaluation on what would be an example of one of the dumbest humans on the planet to understand how they made it that far in life while somehow avoiding natural selection's even lowest efforts.
Originally Posted By LargePeter⏩
Proceeds of theft need to be reported for taxation purposes despite taxation being theft lmao
This.

The illusion of representation every two years doesn't disqualify the country's original rallying call of, "no taxation without representation." The Found Fathers would be bowing their heads in shame.
I will stand firm, I refuse to kneel - The fury in me is divine
My dark grave awaits, my fate is revealed - But I'm not afraid to die

If you have any problems or need advice, feel free to ask
post 1678685293 03-10-2023, 05:45 AM
-
#7
  1. Bushmaster
  2. Masculine Toxicity
  1. Bushmaster
  2. Masculine Toxicity
  3. Join Date: Jul 2003
  4. Location: Greenville, South Carolina, United States
  5. Posts: 68,355
  6. Subscribers: 2
  7. Rep Power: 698380
Zelensky gonna file taxes this year? Because he's just stolen a couple hundred billion dollars.
It's a hot night. The mind races. You think about your knife: the only friend who hasn't betrayed you, the only friend who won't be dead by sunup. Sleep tight mates, in your quilted chambray night shirts.
post 1678686323 03-10-2023, 06:17 AM
-
#8
  1. Procta
  1. Procta
  3. Join Date: Feb 2006
  4. Location: Jacksonville, Florida, United States
  5. Posts: 132,677
  6. Subscribers: 8
  7. Rep Power: 1749259
IRS is only expanding and getting more power to collect

they dont care how you get money as long as they get their cut
Subscribe for extra premium content (no noodz sorry guys)
post 1678692723 03-10-2023, 08:39 AM
-
#9
  1. Procta
  1. Procta
  3. Join Date: Feb 2006
  4. Location: Jacksonville, Florida, United States
  5. Posts: 132,677
  6. Subscribers: 8
  7. Rep Power: 1749259
good thing they are going after billionaires

Subscribe for extra premium content (no noodz sorry guys)
post 1678693713 03-10-2023, 09:03 AM
-
#10
  1. Mark1T
  2. High Plains Lifter
  1. Mark1T
  2. High Plains Lifter
  3. Join Date: Sep 2004
  4. Location: USA
  5. Posts: 37,839
  6. Subscribers: 4
  7. Rep Power: 715693
Imma only report half my dope sales income.

Whatcha gon do?
Helping one person may not change the world, but it could change the world for one person.
post 1678694583 03-10-2023, 09:21 AM
-
#11
  1. Zelensky
  2. GOAT miscer
  1. Zelensky
  2. GOAT miscer
  3. Join Date: Dec 2022
  4. Posts: 13,915
  5. Rep Power: 166374
Originally Posted By Bushmaster⏩
Zelensky gonna file taxes this year? Because he's just stolen a couple hundred billion dollars.
post 1678694933 03-10-2023, 09:28 AM
-
#12
  1. JoshSP1985
  2. Anti-Circumcision
  1. JoshSP1985
  2. Anti-Circumcision
  3. Join Date: Aug 2009
  4. Location: Franklin, Indiana, United States
  5. Posts: 66,936
  6. Rep Power: 214514
Originally Posted By Leonydus⏩
this cant be real
It's absolutely real. Remember Al Capone got brought down because of tax evasion.
*PUREBLOOD CREW*
*DAD CREW*
*SUPER STRAIGHT*
*NATURAL DICK CREW*
*CCW*
post 1678695383 03-10-2023, 09:36 AM
-
#13
  1. Cleveland33
  2. Registered Gooner
  1. Cleveland33
  2. Registered Gooner
  3. Join Date: Jan 2010
  4. Location: Philadelphia, Pennsylvania, United States
  5. Posts: 66,951
  6. Rep Power: 497612
Originally Posted By JoshSP1985⏩
It's absolutely real. Remember Al Capone got brought down because of tax evasion.
it's not new either
post 1678698873 03-10-2023, 10:24 AM
-
#14
  1. SmithMachineGuy
  1. SmithMachineGuy
  3. Join Date: Sep 2009
  4. Location: United States
  5. Posts: 19,756
  6. Rep Power: 107444
Wouldn't you only report the income after you fence the stolen goods and realize the gain?

If I steal a TV set, the FMV of that TV is zero, which is what it cost me to obtain it. If I sell the TV for $300, then I have $300 profit on which I can be taxed.
post 1678705063 03-10-2023, 12:03 PM
-
#15
  1. JoshSP1985
  2. Anti-Circumcision
  1. JoshSP1985
  2. Anti-Circumcision
  3. Join Date: Aug 2009
  4. Location: Franklin, Indiana, United States
  5. Posts: 66,936
  6. Rep Power: 214514
Originally Posted By SmithMachineGuy⏩
Wouldn't you only report the income after you fence the stolen goods and realize the gain?

If I steal a TV set, the FMV of that TV is zero, which is what it cost me to obtain it. If I sell the TV for $300, then I have $300 profit on which I can be taxed.
No,

If someone gives you a house you pay cap gains. You don't have to convert an asset into cash for it to have a value.
*PUREBLOOD CREW*
*DAD CREW*
*SUPER STRAIGHT*
*NATURAL DICK CREW*
*CCW*
post 1678708143 03-10-2023, 12:52 PM
-
#16
  1. HockeyBacon18
  2. Goof loving Jared
  1. HockeyBacon18
  2. Goof loving Jared
  3. Join Date: Mar 2014
  4. Location: Canada
  5. Posts: 17,915
  6. Rep Power: 90771
lmao brahs its real because then the feds can lock you up for failure to report stolen goods as income even if they cant pin the theft on you
Keep mod discussions out of your sig line

Misc 2018 and 2019 NFL Pick Em Champion- Better luck next year fellas

Resident miscer for the Super Bowl 57 CHAMPION LA Rams.
post 1678708903 03-10-2023, 01:04 PM
-
#17
  1. LogicalLifts
  2. Registered User
  1. LogicalLifts
  2. Registered User
  3. Join Date: Aug 2022
  4. Age: 56
  5. Posts: 13,157
  6. Rep Power: 204849
Originally Posted By Procta⏩
IRS is only expanding and getting more power to collect

they dont care how you get money as long as they get their cut
Except that if someone commits a crime, they can report the proceeds of that crime to avoid a plenitude of other charges. Or is crime X + (other charges) worth it? I wouldn't think so.

Or is the mantra on this forum "all taxation is theft"?
post 1678709053 03-10-2023, 01:06 PM
-
#18
  1. Cleveland33
  2. Registered Gooner
  1. Cleveland33
  2. Registered Gooner
  3. Join Date: Jan 2010
  4. Location: Philadelphia, Pennsylvania, United States
  5. Posts: 66,951
  6. Rep Power: 497612
Originally Posted By LogicalLifts⏩
Except that if someone commits a crime, they can report the proceeds of that crime to avoid a plenitude of other charges. Or is crime X + (other charges) worth it? I wouldn't think so.

Or is the mantra on this forum "all taxation is theft"?
all taxation is theft
post 1678709163 03-10-2023, 01:10 PM
-
#19
  1. LogicalLifts
  2. Registered User
  1. LogicalLifts
  2. Registered User
  3. Join Date: Aug 2022
  4. Age: 56
  5. Posts: 13,157
  6. Rep Power: 204849
Originally Posted By Cleveland33⏩
all taxation is theft
The Tax Man always gets his cut.

Let it sink in.

All USA enforcement authorities do, from CBP, ICE, FBI, etc.

Let that sink in as well.

Or is the mantra on this forum "there is no authority over me" - hence the hate for all LEOs?
post 1678710203 03-10-2023, 01:23 PM
-
#20
  1. Cleveland33
  2. Registered Gooner
  1. Cleveland33
  2. Registered Gooner
  3. Join Date: Jan 2010
  4. Location: Philadelphia, Pennsylvania, United States
  5. Posts: 66,951
  6. Rep Power: 497612
Originally Posted By LogicalLifts⏩
The Tax Man always gets his cut.

Let it sink in.

All USA enforcement authorities do, from CBP, ICE, FBI, etc.

Let that sink in as well.

Or is the mantra on this forum "there is no authority over me" - hence the hate for all LEOs?
that doesn't change the fact that taxation is theft
post 1678710703 03-10-2023, 01:33 PM
-
#21
  1. LogicalLifts
  2. Registered User
  1. LogicalLifts
  2. Registered User
  3. Join Date: Aug 2022
  4. Age: 56
  5. Posts: 13,157
  6. Rep Power: 204849
Originally Posted By Cleveland33⏩
that doesn't change the fact that taxation is theft
Stating something twice doesn't make it a fact.
post 1678711263 03-10-2023, 01:42 PM
-
#22
  1. RIKTER
  2. Registered User
  1. RIKTER
  2. Registered User
  3. Join Date: Dec 2006
  4. Age: 51
  5. Posts: 31,602
  6. Rep Power: 241807
Originally Posted By NKWulf⏩
https://www.foxbusiness.com/financia...come-good-know

According to IRS Publication 525, taxpayers are legally required to report the value of whatever property they stole during the tax year.

"If you steal property, you must report its FMV (Fair Market Value) in your income in the year you steal it, unless in the same year you return it to its rightful owner," the rule reads.

The same rule applies to bribery, drug deals and other income-earning crimes.
Zelenski.laughing. gif
post 1678711813 03-10-2023, 01:51 PM
-
#23
  1. Mark1T
  2. High Plains Lifter
  1. Mark1T
  2. High Plains Lifter
  3. Join Date: Sep 2004
  4. Location: USA
  5. Posts: 37,839
  6. Subscribers: 4
  7. Rep Power: 715693
So, if a playah takes 20% of my dope stash and doesn't pay me, besides my boys paying him a visit, can I write off that 20% loss?
Helping one person may not change the world, but it could change the world for one person.
post 1678712263 03-10-2023, 02:00 PM
-
#24
  1. Cleveland33
  2. Registered Gooner
  1. Cleveland33
  2. Registered Gooner
  3. Join Date: Jan 2010
  4. Location: Philadelphia, Pennsylvania, United States
  5. Posts: 66,951
  6. Rep Power: 497612
Originally Posted By Mark1T⏩
So, if a playah takes 20% of my dope stash and doesn't pay me, besides my boys paying him a visit, can I write off that 20% loss?
I think only if you are a dealer.
post 1678714513 03-10-2023, 02:38 PM
-
#25
  1. JoshSP1985
  2. Anti-Circumcision
  1. JoshSP1985
  2. Anti-Circumcision
  3. Join Date: Aug 2009
  4. Location: Franklin, Indiana, United States
  5. Posts: 66,936
  6. Rep Power: 214514
Originally Posted By Mark1T⏩
So, if a playah takes 20% of my dope stash and doesn't pay me, besides my boys paying him a visit, can I write off that 20% loss?
Damn now we're thinking.

Is there a specific form to use to claim/report taxes related to stolen goods?
*PUREBLOOD CREW*
*DAD CREW*
*SUPER STRAIGHT*
*NATURAL DICK CREW*
*CCW*
Quick Navigation Top Misc
Bookmarks
Digg.com
Digg
del.icio.us
del.icio.us
Stumbleupon.com
StumbleUpon
Google.com
Google
Facebook.com
Facebook
Posting Permissions
  1. You may not post new threads
  2. You may not post replies
  3. You may not post attachments
  4. You may not edit your posts