Illegal Income

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Illegal Income

Income from an illegal act. Examples of illegal income include income from theft and drug dealing. Illegal income is taxed in the United States as if it were ordinary income. Interestingly, expenses one incurs in the conduct of an illegal activity (other than drug trafficking) may be tax deductible. For example, the IRS may allow deductions for bribes paid to foreign governments.
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Legitimate laundromat sales were mixed with the illegal incomes, making it hard for law enforcers to keep track of Capone's criminal cash flows.
According to the Drug Administration Law, all relevant illegal incomes of Changchun Changsheng Company were confiscated and the highest fine was imposed by relevant parties.
District Headquarters Hospital Medical Superintendent Mehr Iqbal said many of the quacks were also running medical stores with their clinics to earn double illegal incomes. He added that such medical stores were also sealed during the crackdown.
Legalization of illegal incomes requires introduction of some mass of money into circulation.
It grows when others choose to accept the illegal incomes as " perks of the job".
(c) the percentage of those living on illegal incomes is decreasing
Illegal income was the main source of income for only 2% (HAT) versus 7% (AORT)--the difference in proportion was marginally significant.
If illegal incomes are saved, there are also behavioral differences.
Instead of simply closing rackets that generate illegal income, the central objective has become to attack the flow of criminal profits after they have been earned.
Note that 14 inmates refused to report illegal incomes. These inmates were very cautious about discussing such incomes, given their long prison terms for drug conspiracies.
Table 7: Illegal Monthly Income and Annual Projections Illegal Income Frequency Per Year ($) Per Month 0 14 0 100 1 1,200 500 1 6,000 2,000 2 24,000 3,000 2 36,000 5,000 1 60,000 8,000 1 96,000 9,000 1 108,000 12,000 1 144,000 20,000 2 240,000 30,000 1 360,000 50,000 1 600,000 65,000 1 780,000 80,000 1 960,000 500,000 1 6 million 750,000 1 9 million Several million 1 24-36 million?
At the international donor conference held in June in Kyrgyzstan it was repeatedly mentioned that law enforcement agencies and courts lack special knowledge and skills in investigation and consideration of criminal cases related with legalization of illegal incomes and financing of terrorism.