TaxRevo Fun Fact
Did you know that the IRS was responsible for the downfall of notorious gangster Al Capone?
Under the Tax Code, income is reportable even if the source is illegal activities (that’s still true today). Using forensic accounting, a former agent of the Treasury Department’s Bureau of Internal Revenue, Special Agent Frank Wilson and IRS “T-Men” (as they were called) put together a case against Capone for failing to report millions. On June 5, 1931, Capone was indicted on 22 counts of federal income tax evasion.