Stolen Money = Taxable Money

 

By DeEtte L. Loeffler, J.D., L.LM, Taxation

In a recently filed case, Alhadi v. Commissioner of Internal Revenue, a caregiver was found guilty of elder abuse by exerting undue influence over a wealthy, elderly man. The man had written Angelina Alhadi over $800,000 in checks before catching the attention of the Department of Health and Human Services. Alhadi’s failure to report this income resulted in more than one million dollars in penalties by the IRS.

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