Everyone will soon have to report their income and deductions for tax time, but what about people who earn money illegally? The VERIFY team confirms this is true using the following sources.

SOURCES: The Internal Revenue Service and U.S. Supreme Court records.

QUESTION: Does the IRS require people to report income from illegal activities?

ANSWER: This is true. In1921, congress changed the tax laws to require people to pay taxes on all income, regardless of how it was obtained. Today, the IRS not only warns criminals to fill out their taxes but also tells them how to do it if they’ve taken a bribe, accepted a kickback or made money from illegal activity, like selling drugs.

People who steal property must also report the item’s fair market value as income, unless they return it to their rightful owner in the same tax year.

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