Remember to Report Stolen Goods On Your Taxes

By Marcus Gilmer in Miscellaneous on Apr 1, 2009 9:25PM

It's tax season - the every ominous April 15 deadline is just two weeks away - so it's time to wrap up your taxes. Just remember that if you stole anything from anyone, you, uh, owe taxes on that, too. Per WBBM:

Accountant Elliot Friedman of Friedman & Huey Associates in Homewood and Park Ridge says if you have any illegal income, the IRS code is clear: you'd better include it on your tax return. That includes embezzled funds, bribes or kickbacks, money from drugs, prositution or Ponzi schemes.

Friedman says your tax return can't be used as evidence to prosecute you for another crime, but, if you don't report illegal income prosecutors can get you on tax evasion charges as they did Al Capone almost 80 years ago.

A "tax return can't be used as evidence to prosecute you for another crime"? That sound you just heard was the collective sigh of relief coming from City Hall.