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If somehow the IRS found out that you and your buddies were doing this elaborate stealing-to-borrow plan, they could slap down tax evasion charges on you since
by calderarrow 6y ago
If somehow the IRS found out that you and your buddies were doing this elaborate stealing-to-borrow plan, they could slap down tax evasion charges on you since that's definitely breaking the spirit of the law.
But that's a pretty big if ;)
- alien_ 6y agoYeah, the way I read it this allows them to prosecute tax evasion in addition to theft for all property stolen in the previous years that wasn't declared to IRS as income from illegal activities. Is that a common practice?
- vimax 6y agoIt has been used several times against organized crime, most famously against Al Capone. You can't prove they did anything illegal to profit, but the IRS can audit them and prove they have not paid taxes on all their assets.