5 ms·
The money itself might not be dirty, couldn’t you just claim something like “I sold a secret, highly valuable algorithm to this guy”? Tax would still need to be
by Zinu 1y ago
The money itself might not be dirty, couldn’t you just claim something like “I sold a secret, highly valuable algorithm to this guy”? Tax would still need to be paid of course
- remus 1y agoImmediate follow up questions from the tax man, and then shortly afterwards the police "who is this guy? where is the invoice? what is his phone number?"
- Enginerrrd 1y agoNo, it doesnt typically work that way at all. The tax man just wants to get paid. I grew up in an area known for people growing cannabis before it was legal. An enormous amount of taxes got dodged through cash land deals, but tons of people just claimed the income under various categories and no one ever came knocking because of that. Its usually the other way around. If you caught the Fed's eye, then they might try to get you on tax evasion or something. Although, frankly even that was very rare. There are just a lot of very obvious fish to fry.
- sidewndr46 1y agoAre you talking about the IRS at the Federal level or someone else in the US?
- jama211 1y ago“I didn’t see these specific people get caught much in this specific situation therefore in general it works this way” - do you see how silly this sounds?
- nkrisc 1y agoAnd when they ask you who “this guy” is?
- gruez 1y agoFor the people downvoting, that's unironically a thing: https://www.irs.gov/publications/p525#en_US_2024_publink1000229557 https://www.irs.gov/publications/p525#en_US_2024_publink1000... >Illegal activities. >Income from illegal activities, such as money from dealing illegal drugs, must be included in your income on Schedule 1 (Form 1040), line 8z, or on Schedule C (Form 1040) if from your self-employment activity.
- jama211 1y agoYou underestimate the tax auditors.