Comments on: Do I Need to Report This Income? Part 2 http://www.consumerismcommentary.com/2007/01/05/do-i-need-to-report-this-income-part-2/ A premiere personal finance blog, established 2003. Within, Flexo discusses his own experiences with money, and he and other authors comment on a wide range of personal finance topics. Sun, 08 Nov 2009 07:50:42 -0500 http://wordpress.org/?v=2.8.5 hourly 1 By: rich http://www.consumerismcommentary.com/2007/01/05/do-i-need-to-report-this-income-part-2/#comment-134896 rich Wed, 30 Jan 2008 16:20:10 +0000 http://www.consumerismcommentary.com/2007/01/05/do-i-need-to-report-this-income-part-2/#comment-134896 I received proceeds from a forloser do I have to report as income? I am retired and on Sociae Security and Pension I received proceeds from a forloser do I have to report as income? I am retired and on Sociae Security and Pension

]]> By: » Light Weekend Reading on Blueprint for Financial Prosperity http://www.consumerismcommentary.com/2007/01/05/do-i-need-to-report-this-income-part-2/#comment-119148 » Light Weekend Reading on Blueprint for Financial Prosperity Mon, 01 Oct 2007 14:16:52 +0000 http://www.consumerismcommentary.com/2007/01/05/do-i-need-to-report-this-income-part-2/#comment-119148 [...] Win the lotto? Declare that income! Flexo takes a humorous look at some income declaration rules. [...] [...] Win the lotto? Declare that income! Flexo takes a humorous look at some income declaration rules. [...]

]]> By: Piri http://www.consumerismcommentary.com/2007/01/05/do-i-need-to-report-this-income-part-2/#comment-91173 Piri Mon, 09 Apr 2007 12:14:14 +0000 http://www.consumerismcommentary.com/2007/01/05/do-i-need-to-report-this-income-part-2/#comment-91173 What about Wedding Gifts? Thanks for the nice guide! (Funny too!) What about Wedding Gifts?
Thanks for the nice guide! (Funny too!)

]]> By: Flexo http://www.consumerismcommentary.com/2007/01/05/do-i-need-to-report-this-income-part-2/#comment-90876 Flexo Thu, 05 Apr 2007 19:17:08 +0000 http://www.consumerismcommentary.com/2007/01/05/do-i-need-to-report-this-income-part-2/#comment-90876 John: Sorry, that's just my odd sense of humor. John: Sorry, that’s just my odd sense of humor.

]]> By: john http://www.consumerismcommentary.com/2007/01/05/do-i-need-to-report-this-income-part-2/#comment-90793 john Wed, 04 Apr 2007 16:37:40 +0000 http://www.consumerismcommentary.com/2007/01/05/do-i-need-to-report-this-income-part-2/#comment-90793 > they were about to rob some individual they call “McJagger,� Are you sure that wasn't "Mick Jagger?" > they were about to rob some individual they call “McJagger,�

Are you sure that wasn’t “Mick Jagger?”

]]> By: Kay http://www.consumerismcommentary.com/2007/01/05/do-i-need-to-report-this-income-part-2/#comment-77400 Kay Wed, 10 Jan 2007 23:46:25 +0000 http://www.consumerismcommentary.com/2007/01/05/do-i-need-to-report-this-income-part-2/#comment-77400 Realistically, it's nigh impossible to collect taxes on illegal income (although last year the NYTimes ran a story on a group that helps ladies of the evening file their returns). The real reason for these types of laws is to "pile on" a la Al Capone. If something happens where a more typical criminal charge can't be successfully prosecuted, the tax law violations are another and usually easier way to convict the person of at least something. Realistically, it’s nigh impossible to collect taxes on illegal income (although last year the NYTimes ran a story on a group that helps ladies of the evening file their returns). The real reason for these types of laws is to “pile on” a la Al Capone. If something happens where a more typical criminal charge can’t be successfully prosecuted, the tax law violations are another and usually easier way to convict the person of at least something.

]]> By: dimes http://www.consumerismcommentary.com/2007/01/05/do-i-need-to-report-this-income-part-2/#comment-77320 dimes Wed, 10 Jan 2007 04:55:25 +0000 http://www.consumerismcommentary.com/2007/01/05/do-i-need-to-report-this-income-part-2/#comment-77320 I've often wondered how the IRS could ever really audit a prostitute or drug dealer, for example. I’ve often wondered how the IRS could ever really audit a prostitute or drug dealer, for example.

]]> By: Getting Green http://www.consumerismcommentary.com/2007/01/05/do-i-need-to-report-this-income-part-2/#comment-77138 Getting Green Mon, 08 Jan 2007 02:49:24 +0000 http://www.consumerismcommentary.com/2007/01/05/do-i-need-to-report-this-income-part-2/#comment-77138 I think the IRS's true colors really come out when they tell us that we have to report illegal income. They're nothing more than a pack of government sponsored thieves! You'd think that since that 99% of Americans hate paying taxes there'd be a bigger movement to cut them, but nope! I think the IRS’s true colors really come out when they tell us that we have to report illegal income. They’re nothing more than a pack of government sponsored thieves! You’d think that since that 99% of Americans hate paying taxes there’d be a bigger movement to cut them, but nope!

]]> By: fivecentnickel.com http://www.consumerismcommentary.com/2007/01/05/do-i-need-to-report-this-income-part-2/#comment-77008 fivecentnickel.com Sun, 07 Jan 2007 02:39:04 +0000 http://www.consumerismcommentary.com/2007/01/05/do-i-need-to-report-this-income-part-2/#comment-77008 Weekly Roundup - 01/05/06... MBH is ‘glass half empty’ kind of guy — or at least he was this week when talking about the financial future. FMF talks about turning a hobby into an income. Flexo has a couple of interesting pieces on what sort of income you have to ... Weekly Roundup – 01/05/06…

MBH is ‘glass half empty’ kind of guy — or at least he was this week when talking about the financial future.
FMF talks about turning a hobby into an income.
Flexo has a couple of interesting pieces on what sort of income you have to …

]]> By: mapgirl http://www.consumerismcommentary.com/2007/01/05/do-i-need-to-report-this-income-part-2/#comment-76899 mapgirl Fri, 05 Jan 2007 21:03:45 +0000 http://www.consumerismcommentary.com/2007/01/05/do-i-need-to-report-this-income-part-2/#comment-76899 Hilarious post. Hilarious post.

]]> By: 2 Pennies Earned http://www.consumerismcommentary.com/2007/01/05/do-i-need-to-report-this-income-part-2/#comment-76890 2 Pennies Earned Fri, 05 Jan 2007 19:48:26 +0000 http://www.consumerismcommentary.com/2007/01/05/do-i-need-to-report-this-income-part-2/#comment-76890 What about the gift cards and statement credits that credit card companies give out when you sign up for their cards? What about the gift cards and statement credits that credit card companies give out when you sign up for their cards?

]]> By: Debt Free http://www.consumerismcommentary.com/2007/01/05/do-i-need-to-report-this-income-part-2/#comment-76876 Debt Free Fri, 05 Jan 2007 15:02:49 +0000 http://www.consumerismcommentary.com/2007/01/05/do-i-need-to-report-this-income-part-2/#comment-76876 You shouldn't be playing the Lottery in the first place, although a 12/54,000,000 return is pretty good on a dollar. Basically the IRS always gets their cut. Great post. You shouldn’t be playing the Lottery in the first place, although a 12/54,000,000 return is pretty good on a dollar. Basically the IRS always gets their cut. Great post.

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