4 ms·
> And the IRS is after him too. The situation as a whole is pretty crappy, but this part actually makes sense. It was income, and it's taxable. I'm definitely
by CocaKoala 12y ago
> And the IRS is after him too.
The situation as a whole is pretty crappy, but this part actually makes sense. It was income, and it's taxable. I'm definitely not condoning the fact that the government seized it and hasn't returned it after the acquittal, but the IRS still wanting to tax him for it is expected behavior.
Interestingly, it appears that (according to some very crude, preliminary research), the two men could probably claim their legal fees as deductions, which would lessen the tax burden a bit.
- discardorama 12y ago> It was income, and it's taxable. So let's say you are at a casino, and win $20K. It's reported to the IRS. As you're driving home happily whistling away, the police pull you over for illegal "whistling while driving". They find the $20K, and under the Civil Asset Forfeiture law (mentioned above), seize the $20K. Now how are you supposed to pay the taxes? You don't even have the money anymore!
- CocaKoala 12y agoI'm waiting for the part where you explain how this is something the IRS is supposed to resolve or care about.