PSA: Bribes must be reported as income to the IRS

[FoBoT]

Publication 525 - Taxable and Non-taxable Income

Bribes. If you receive a bribe, include it in your income.

http://www.irs.gov/publications/p525/ar02.html#d0e7312

also

Kickbacks. You must include kickbacks, side commissions, push money, or similar payments you receive in your income on Form 1040, line 21, or on Schedule C or Schedule C-EZ (Form 1040) if from your self-employment activity.

 

[Ika]

Wow.

 

[NatePo717]

damn it... Now I have to pay taxes on the millions I've taken in bribes over the past few years......

 

[nakedfrog]

You also have to get tax stamps for your marijuana purchases, IIRC.

 

[pontifex]

Originally posted by: FoBoT
Publication 525 - Taxable and Non-taxable Income

Bribes. If you receive a bribe, include it in your income.

http://www.irs.gov/publications/p525/ar02.html#d0e7312

also

Kickbacks. You must include kickbacks, side commissions, push money, or similar payments you receive in your income on Form 1040, line 21, or on Schedule C or Schedule C-EZ (Form 1040) if from your self-employment activity.

lol

 

[Shadowknight]

Legally, you're required to report pretty much all forms of income that aren't gifts; that's the reason they busted Al Capone, after all.

 

[jpeyton]

I have a better idea.