Taxation Of Illegal Income In The United States
In the United States, the Internal Revenue Code (IRC) was enacted by the U.S. Congress in part for the purpose of taxing net income. The Internal Revenue Code is not a mechanism for enforcing other codes of law, such as criminal law. A person’s taxable income will generally be subject to the same Federal income tax rules, regardless of whether the income was obtained legally or illegally.
Read more about Taxation Of Illegal Income In The United States: Notable Cases, Income, Deductible Expenses in Illegal Activity – The General Rule, Expenses That Are Not Deductible, Medical Marijuana: Treatment of Deductions For Expenses in Business Legalized Under State Laws
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