Comment on Anon is vengeful
DrPop@lemmy.world 6 months agoThis is true see IRS publication 525.
Illegal activities.
Income from illegal activities, such as money from dealing illegal drugs, must be included in your income on Schedule 1 (Form 1040), line 8z, or on Schedule C (Form 1040) if from your self-employment activity.
Bribes are also considered taxable income.
atocci@kbin.social 6 months ago
The point here is to make it explicitly clear that if you're making money off illegal activity, you can and will be charged with tax evasion when caught. The law will still take action if you tell on yourself, even for tax purposes 👍