Live Q&A: IRS Begins Taxing Profits From Crime; Ghislaine Maxwell Guilty for Child Sex Trafficking

It used to be said that crime doesn’t pay. But now, according to the IRS, not only does crime pay, but that pay is a taxable asset — and they want a cut. The Internal Revenue Service is now saying that criminals need to report income from crime when they file their taxes. The IRS website now states, “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.” This is under a section on taxes for “Illegal activities.” It notes in a separate area that “Illegal bribes and kickbacks” are nondeductible expenses, but notes that “If you receive a bribe, include it in your income.” While clarifying the taxes it wants from kickbacks, the IRS clarifies “You must include kickbacks, side commissions, push money, or similar payments you receive in your income…” And also, if you’ve stolen someone else’s property, the IRS is also now saying it needs to be taxed. Under a “Stolen Property” section, it states, “If you steal property, you must report its fair market value in your income in the year you steal it unless you return it to its rightful owner in the same year.” In this live Q&A with Crossroads, Joshua will discuss these stories and others, and answer questions from the audience. ⭕️ Stay up-to-date with Josh with the Crossroads NEWSLETTER👉 https://ept.ms/CrossroadsNewsletter ⭕️ Support our fight for the truth👉 https://donorbox.org/crossroads