You Won't Believe What the IRS Says People Must Declare as Income

[Geee]

PJ Media

As the year comes to a close, it’s once again time to start thinking about taxes. Tax day is still months away, but for many people who aren’t very good at bookkeeping, tax season can be a stressful time of making sure you’ve got all the necessary documentation for the income you’ve earned and deductions you can take.

The tax code is, of course, incredibly complex, and many rely on professionals to prepare their taxes for them. Experts have a much better idea of the things you can claim to reduce your tax burden, and they can alert you to items you must declare as income if you don’t want to risk getting audited.

For Our VIPs: Smoke and Mirrors: CBO Relies on IRS Scaring Tax Cheats to Score Biden’s BBB Revenue Shortfall

While you obviously wouldn’t be expected to know everything — or even most — of what the tax code says, there is something the IRS expects people to declare as income that is so absurd, you won’t believe it.

According to the IRS, “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.”