Trending

What?! The IRS Wants THIS on Taxes?

Twitter users were in shock as they read the Publication 525 2022 tax guide, where it states income from illegal activity – such as money from dealing drugs – must be reported on Schedule 1 or Schedule C.

Townhall reports, as tax season approached, Twitter users poked fun at parts of IRS Publication 525 that look like they belong in the Babylon Bee.

A portion of the 2022 tax guide states “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,”

What if you’re involved in other crimes, like drug dealing? Likewise, the IRS wants a share of that income.

“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.

Twitter users were left aghast at sections of the IRS Publication 525 that seemed to reflect the inflation and lack of morals in modern society. The guideline stating that those involved in illegal activities, such as drug dealing, must report their income to the IRS was quickly labeled as evidence of ‘woke’ liberal agendas taking over and degrading society. Many considered it unbelievable that this could possibly be real, as though inflation had reached new heights and moral standards had hit an all-time low. Clearly, the public sentiment was one of shock and anger, with many calling it inflation run amok and more proof of what a degraded society we’ve become.

Next News Network Team

Recent Posts

Kevin Costner Breaks Silence: ‘Crushing’ Divorce and Moving Forward

"Kevin Costner Breaks Silence: 'Crushing' Divorce and Moving Forward" "Hollywood Icon Kevin Costner Opens Up…

6 months ago

Walgreens Considers Major Store Closures Amid Retail Challenges

Walgreens Boots Alliance CEO Tim Wentworth announced potential closures of a "meaningful percent" of the…

6 months ago

Dave Grohl’s Concert Pause: Foo Fighters Frontman Puts Safety First

Dave Grohl, Foo Fighters frontman, halted a concert in Birmingham to address a crowd disturbance.…

6 months ago

Panthers’ Paradise: Florida’s Stanley Cup Celebration Reaches Legendary Status

The Florida Panthers have etched their names in NHL history not just for their on-ice…

6 months ago

Chanel West Coast’s Double Life: New Reality Show Reveals Star’s Struggles

By day, I'm mom. By night, I'm an artist," Chanel West Coast says in the…

6 months ago

Media Matters Funnels Six-Figure Sum to Board Member’s Firm

Media Matters for America, a nonprofit focused on correcting "conservative misinformation," paid $105,000 in 2022…

6 months ago