With tax season upon us, Twitter users had a field day joking about parts of the IRS Publication 525 that look as though they belong on the pages of the Babylon Bee.
“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,” a portion of the 2022 tax guide states.
What about if you’re involved in other crimes, like drug dealing? The IRS wants its fair share of that income, too.
“Income from illegal activities, such a 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," the rule states.
The IRS be like I don’t care what law you break as long as I get my fair share. https://t.co/KwQPRrNCcd
— ℝ𝕠𝕪𝕒𝕝 𝕁𝕖𝕝𝕝𝕪 🐝 🌬🌊⛵️🏔⛷🎿🏂☃️ (@pard0nmyfr3nch) March 7, 2023
it's pretty hysterical that this ISN'T satire
— Åntön (@antonthehominid) March 7, 2023
This can’t be real can it 🤔
— Learn Life Money (@learnlifemoney) March 6, 2023
What if the government steals from us, can we depreciate the loss?
— Mic Martin (@Truth_of_Mic) March 6, 2023
So my black ski mask and duffle bag is used as a deductible from robbing the local liquor store 😂
— Chill trades (@Spideywebs55) March 7, 2023
Does anyone know if you can deduct costs for the getaway car, masks, etc?
— Corb (@corb555) March 7, 2023
Others saw a more practical reason for the inclusion.
Kind of smart. Gives the prosecutors additional charges just in case the primary charges can’t stick.
— Mike P (@PasterickMike) March 6, 2023