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You could not make this up if you tried:

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.

[irs.gov]

This is the government that is going to cure cancer?
This is the government that is going to solve climate change problems?

#ClimateChange #government #climate #cancer #money #drugs #cure
BD66 8 Dec 29
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Level 8

Why would that not be the case? Only legal income should be subject to taxes? I'm not understanding why this is an issue. It's why money laundering was invented. It's been this way forever, it's nothing new.

3

Level 8

I mean, some people do report illegal income, and with good reason.

[money.cnn.com]

1

Level 7

They have a plan…

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