I知 from the Federal Government and I知 Here to Help You | Beaufort County Now | According to the IRS the smart thing to do is to tell them if we have stolen but if we tell them we are stupid.

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“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


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