Do I have to pay tax on illegally obtained money or property?
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| Yes, you have to pay
tax on your tax return for illegally obtained money. Illegal income, such as stolen or embezzled money or property, must be included
in your gross taxable income on your tax return. You must also include in your
taxable income on your tax return, kickbacks, bribes, side
commissions, push money, or similar payments you receive.
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| Related tax
information about illegally obtained money |
Tax Directory Topics:
Income Related Questions and Answers |
IRS publications about
illegally obtained money:
For further tax information about illegally obtained money see IRS Publication 17, Your
Federal Income Tax. Please read this IMPORTANT
Editor's Note regarding navigating IRS publications with Adobe
Acrobat
Reader.
IRS publications can also be ordered by calling 1-800-829-3676. |
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