The IRS has a very important message for left wing looters before the New Year. An actual line from the IRS websites states:
If you steal property, you must report its fair market value in your income in the year you steal it
Yea, because I’m sure looters are totally not going to cheat on their taxes and reported all their stolen goods to the IRS. All the looters in San Francisco, Beverly Hills, Chicago and New York and such honest, law abiding people you know?
Images circulating on social media purport to show an IRS guideline asking taxpayers to report the value of any property they have stolen each year as income.
The guideline is real.
The Internal Revenue Service’s Publication 17, available on the agency’s website, contains a section on stolen property that may leave readers scratching their heads.
“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,” the guideline states.