The Internal Revenue Service is now reminding thieves that they must report income gained through their crimes.

This would be hilarious, if it wasn’t also a stark reminder of how normalized crimes like robbery and shoplifting have become in recent years.

It gets more difficult to distinguish between parody and reality every day.

The FOX Business Network reported:

Twitter users erupt at IRS’s calls for thieves to report stolen income: ‘Good to know’

The IRS’s bewildering rule about self-reporting income from crimes has caused some Twitter users to mock the federal agency.

According to IRS Publication 525, taxpayers are legally required to report the value of whatever property they stole during the tax year.

“If you steal property, you must report its FMV (Fair Market Value) in your income in the year you steal it, unless in the same year you return it to its rightful owner,” the rule reads.

The same rule applies to bribery, drug deals and other income-earning crimes.

The IRS purportedly uses the information solely for tax purposes and does not hand over any evidence to law enforcement.

The only situation where law enforcement may have access to the information is through court orders.

How is this real?

Remember, the IRS requires you to report all income from illegal activities pic.twitter.com/6I1ocQOzWL

— Genevieve Roch-Decter, CFA (@GRDecter) March 6, 2023

IRS wants thieves to report stolen income. AYFKM! Just when I thought I've heard the dumbest thing possible, they prove me wrong! pic.twitter.com/cXjwrZc0SX

— Mike. #GoBruins #BidenSucks (@TruckYouToo61) March 10, 2023

When you thought you had seen everything !! Totally unbelievable . pic.twitter.com/bLTYwuqI3H

— ULTRA-MAGA-FACT (@maxme_max) March 10, 2023

Does the IRS really think criminals are worried about making sure they filed their taxes correctly?

Also, is does this rule apply to Hunter Biden and the Biden family?

The post BEYOND PARODY: The IRS Reminds Thieves That They Have to Pay Taxes on Stolen Property appeared first on The Gateway Pundit.

A massive line formed outside the Silicon Valley Bank earlier today.

A massive line formed outside of a Silicon Valley Bank branch in San Francisco this morning.

The FDIC insures up to $250,000 per depositor, per FDIC-insured bank, per ownership category.  If customers were holding more than that amount then they are at risk of losing anything over $250,000.  According to earlier reports, 90% of SVB customers had more than $250,000 in the bank.

Customers also lined up in New York City.

The NYPD responded to a Silicon Valley Bank branch in Manhattan Friday morning after investors showed up to try to pull money out of their accounts.

Silicon Valley Bank on Friday was shut down by regulators in the biggest bank failure since the 2008 liquidity crisis with $173 billion in holdings.

The Fed interest rate is at 4.57% and $117 billion of Silicon Valley Bank securities are yielding only 1.56-1.66% – this is causing a run on the bank.

California regulators shut down the bank and the FDIC took over.

Silicon Valley Bank holds $173B of deposits.

Fed interest rate is at 4.57%
SVB’s $117B of securities (MBS) yield 1.56-1.66%
This is causing a bank run

If enough VC / tech cos pull their money,
—SVB may be bankrupt
—Many startups may be wiped out
—Crash may cause a recession! pic.twitter.com/wA38Mx1edb

— Deedy (@debarghya_das) March 10, 2023

Via TikTok. and Midnight Rider.

The post Biden Effect: MASSIVE Line Forms Outside of San Francisco Silicon Valley Bank Branch as Bank Folds (VIDEO) appeared first on The Gateway Pundit.